BTC Oct 3 analysis | Chop zone | Inverse cup and handle

At this level of pricing BTC is neither bullish nor bearish. It’s just sideways chop trading\u2028\u2028\u2028
BTC/USD H&S neckline held + trend line since Sept 8
Double-top at $6800 and at 6650\u2028BTC
4h bear flag, next support $6384\u2028BTC
1h Inverse cup and handle (bearish)
ETH/USD H&S ($216 support next) sideways chop range
\u2028Weekly RSI \u2028BLX weekly chart still on track for $3500-4500 target

評論:

Weekly RSI still trapped in descending channel and creating lower highs

評論:

Strong move by BTC here in the last 15 minutes. It wants to break through that $6575 solid resistance successfully and retest the $6650 resistance

評論:

In the next 6-10 hours we should be approaching our descending trend line resistance (yellow). This trend line is created by touching the highs in March of 11.7k and the May 10k. We briefly broke past this trend line on Sept 4th by $200 when we reached for $7400 followed by a large dump. The next descending trend line is created by the highs of March 11.7k and the highs of June 8.5k. This line is currently around $7200.

Trend lines like this aren't the defining factor for price. However, they do give you a general outline of how price is following a path of creating lower highs and what angular descent price is following. Good to keep an eye on this.