Bitcoin price action (PA) can't break strong resistance at 8400$. Bitcoin was farmed SHS pattern (Left Shoulder 8318$, Head 8358$, Right Shoulder at 8313$). After that Bitcoin break down support trend line and crashed from 8313 to 7910$. With small dead cat bounce up to 8008$ Bitcoin continue bearish price action and find support at 7298$. Bitcoin closed bellow EMA 21,50,100,200 periods Strong Downtrend. Potential rebound, bulltrap up to 7700-7800$. After more down retest support at 7200$ price level.
Indicators: RSI bellow 50 points, MACD bullish crossover bellow zero line. Still Bearish sign.
Pattern: SHS, new trading range: High Range 7688 old bottom = ceiling, Mid Range 7450, Low Range 7200.
S/R: Psychology Support 7000, Support 7200, Resistance 7688, Major Resistance 7800.
Disclaimer: THIS IS NOT FINANCIAL ADVICE. All the information shared here is for learning and entertainment purposes only.
Indicators: RSI bellow 50 points, MACD bullish crossover bellow zero line. Still Bearish sign.
Pattern: SHS, new trading range: High Range 7688 old bottom = ceiling, Mid Range 7450, Low Range 7200.
S/R: Psychology Support 7000, Support 7200, Resistance 7688, Major Resistance 7800.
Disclaimer: THIS IS NOT FINANCIAL ADVICE. All the information shared here is for learning and entertainment purposes only.
