Bitcoin is trapped
I know that you are wondering what is going on Bitcoin when comparing with Bitcoin Cash.
It's a good thing to wonder because you like it more than anything.
Bitcoin is currently building up the right shoulder to form an inverted H&S pattern. Therefore we are expecting a rejection inside the blue resistance zone measured between two Kijun-sen. When you look at the flat line of the red cloud on the right, it is a high resistance level 9057
The right shoulder maybe on the same level of the left shoulder, or say it may reach the bottom of the red cloud near 7408
If you want to LONG BTC/USD, then you need more patient for it to hit higher than 9500.
If you want to SHORT BTC/USD, then you need to see some bearish candlesticks for more confirmation.
Bearish candlesticks patterns are:
Hanging Man
Bearish Harami
Bearish Engulfing
Shooting Star
Dark Cloud cover
One Black Crow
It's a good thing to wonder because you like it more than anything.
Bitcoin is currently building up the right shoulder to form an inverted H&S pattern. Therefore we are expecting a rejection inside the blue resistance zone measured between two Kijun-sen. When you look at the flat line of the red cloud on the right, it is a high resistance level 9057
The right shoulder maybe on the same level of the left shoulder, or say it may reach the bottom of the red cloud near 7408
If you want to LONG BTC/USD, then you need more patient for it to hit higher than 9500.
If you want to SHORT BTC/USD, then you need to see some bearish candlesticks for more confirmation.
Bearish candlesticks patterns are:
Hanging Man
Bearish Harami
Bearish Engulfing
Shooting Star
Dark Cloud cover
One Black Crow
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