Giá xuống

You are not safe yet!

BITFINEX:BTCUSD   Bitcoin / Đô la
The reverse H&S pattern finally came true. But things are not coming along "by the books" since I think there will be no trend reversal.

The completion of the H&S brought us slightly outside the bearish channel that BTC was following (yellow circle). Even if this could signal a breakout in my opinion it is not!
Volumes are not supporting such a breakout being lower than average and definitely smaller than the ones creating major positive breakouts.

Even if BTC uptrends from the neckline there will be a pretty strong resistance around 10400$ that happens to be the current level of the 200 days EMA as well.

My take on is that it will still have a bearish development with the three major support levels highlighted in red.

Notice how the middle line around 5700 I drew before the H&S development was actually the "head" of the figure. That could be one of the supports to re-test in a future fall.

To complete the analysis I would mention the fact that we are definitely in a downtrend for BTC . Like most bubbles (and you would concurr with me that such an escalation in prices till 19k is typical of a bubble) the downtrend is characterized by the fear/capitulation phase. I think we're into it. Prices, even if they rise, won't be at 20k levels again.
And if by chance I'm wrong we need to look at the Bitcoin chart under a different timeframe. We are then in the denial/bull trap phase. Things might improve but it's only temporary.

As usual, this is not a trading advice, simply my idea on this much volatile commodity.
Bình luận: We are trading exactly on the 200 days EMA. 10.430 is the next resistance. If that level is broken with supporting volumes then BTC can still grow, otherwise we'll have a pull-back towards 9k area.
VI Tiếng Việt
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Trang chủ Bộ lọc cổ phiếu Bộ lọc Forex Bộ lọc Tiền điện tử Lịch kinh tế Cách thức hoạt động Tính năng Biểu đồ Quy tắc Áp dụng Người điều hành Giải pháp cho Website & Nhà môi giới Widget Thư viện Biểu đồ Chứng khoán Yêu cầu tính năng Blog & Tin tức Câu hỏi thường gặp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh Hồ sơ Tài khoản và Thanh toán Ticket Hỗ trợ của tôi Liên hệ Hỗ trợ Các ý tưởng đã đăng Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất