BTC now looks like a potential inverted head and shoulders. However, what I did was draw a trendline from the daily candle body close on the day BTC pumped to $10,500s (late October 2019), and I took it to the daily candle body closes this month. From there, I cloned that trendline and placed it directly at the bottom of the candle body closes (back from October 2019), giving us a upward sloping channel. If we get rejected at $8700s, we could get a nice bounce at the $8340s-could possibly wick down to the 100-day Moving Average (roughly $8,285 at the moment). With the halving approaching soon, I think we won't stay at these levels for too long. Also to note, from the local top to now, BTC and its daily Stochastic is in a falling broadening wedge. Breakout of the inverted head and shoulder would take BTC to its major monthly resistance at $13,880s.
Disclaimer: Nothing I provide here is financial advice. I am not your financial advisor, I am not your dad, and I am not your Commander. Please as always, DYOR!
Disclaimer: Nothing I provide here is financial advice. I am not your financial advisor, I am not your dad, and I am not your Commander. Please as always, DYOR!