BTC Head and shoulders in play(082319)

well, yes. bearish, bearish.



so h&s in play. resistance 10350/10500. mostly likely drop after that.

next week is most important for btc. it could drop below 100ma daily to 9400 area. so watchout next week.

if break above 10900 will make view of going to 12k, but for now...weak.

so you can long now for few hundred bucks profit which, you need more then 5~10 leverage to make some money.

long term view of this play depends next week.



chance to test 21ema, weekly, which is the best moving average for judging up or down. now at 8800/9000.

so this market, i believe will go up. people say 5k, 6k but i deny that. 3 proofs are.

1.21/50 ema, weekly gk
2.3D 50/200 MA GK.
3.price rise above weekly ichimoku red cloud.

but now, we can see weekly macd want to deadcross, plus weekly rsi can test 53 area.



black box is 21/50 ema cross. green is 21ema support. purple box is 53 rsi.



weekly macd, we would want to see that it just kisses and go up. if deadcrossed, and coming down, view for
bull run is outdated.

good trading!