jakeithapncapn

BTCUSDT has broken to the downside sooner than I anticipated!

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BINANCE:BTCUSDT   Bitcoin / TetherUS
Look out below! ;) The bears are winning at the moment. We have lost the support at the 1200 EMA for right now, on the 4 hour chart. There seems to be a fractal relationship between the head and shoulders target and the support from the uptrend. Note the bounces at high volume trading and you will see an uptrend. Also, note how oversold BTCUSDT the moment. I would expect to see a bounce in the next candle or two and then a couple more waves down to the support of around $8100. I'm calling that strong support given the price action at that trend line plus volume trends.

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