BTCUSD - Head and Shoulders - break down or big bounce?

2018年5月22日

Hello every one, looking at the weekly chart we can see the pattern clearly.
If the pattern complete and the bulls failed to defend the neck line (red trend line) which meets the 50 MA on the weekly (orange) and the 61% Monthly Fibonacci, BTC will drop to the next moving average 100 MA on the weekly (brown) which meets the trend line (blue) and the 71% Monthly Fibonacci.

Weekly Chart

2018年5月24日

ノート

We can see that the bulls tried to save the neck line, but they can't push BTC over the broken support 7600 level [61% monthly Fibonacci].


I think we will go down 7000 level as we can see 25 MA daily cross the 100 MA to the down side and the MACD give a signal to more down side.

2018年5月26日

ノート

The bulls still try to save the neck line, if they fail, the price will drop to 6800 - 6900 level where this is support area and the trend line of the triangel.