$BTC
On 8th September, I posted BTC chart (check 1st screenshot) showing you guys that it is on the bearish retest of the Head and Shoulder pattern. Fast forward 2months later, BTC is rejected badly and is now down 20%. What’s next?
On 1M tf, BTC is close to test the 1M 50MA (check 2nd screenshot) as a support for the second time. Take this as a support and bounce. Otherwise, we are doomed.
On 1W tf, BTC rejected badly from the 1W 100MA (check 3rd screenshot) and is now broken the 1W 200MA. Weekly closing below this candle will be bearish until proven otherwise.
The neckline retest of the Head and Shoulder is completed. Any bounce from here will be a sell signal. BTC is highly bearish here. Below $45k is coming for BTC.
#BTC #bearish
On 8th September, I posted BTC chart (check 1st screenshot) showing you guys that it is on the bearish retest of the Head and Shoulder pattern. Fast forward 2months later, BTC is rejected badly and is now down 20%. What’s next?
On 1M tf, BTC is close to test the 1M 50MA (check 2nd screenshot) as a support for the second time. Take this as a support and bounce. Otherwise, we are doomed.
On 1W tf, BTC rejected badly from the 1W 100MA (check 3rd screenshot) and is now broken the 1W 200MA. Weekly closing below this candle will be bearish until proven otherwise.
The neckline retest of the Head and Shoulder is completed. Any bounce from here will be a sell signal. BTC is highly bearish here. Below $45k is coming for BTC.
#BTC #bearish
