Watch closely to see which way bitcoin moves in the coming few hours. Critical junction whether bitcoin continues along the channel formed on the daily chart or drops and closes below the channel indicating confirmation of the head and shoulders bearish move.
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Channel provided support as expected
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And support was finally broken leading to a big drop. Hope you all bailed once the cross over occurred. It all happened so fast I couldn't sell off my entire alt coin position in time. Rebought in at 12800 at the previous resistance level
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Sold at 13700. Have an uncomfortable feeling right now. Back in cash, waiting for the next bottom on the hourly chart. see what happens in the next 24 hours
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Still sitting at the edge of the lower line of channel. Still don't know which way this wants to go. Waiting for another firm movement up or down
Now, it down over support range. what will it action?
jimo79
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@MSArkRoyal, I rebought in as I expect a bounce, maybe up to 13700 region. then I am waiting for the next candle on the daily. if it closes below the band then I am probably going to resell my position as others are suggesting a fall to 11000 levels which would complete the head & shoulders pattern