BEARISH DIVERGENCES AND A POSSIBLE H&S IN THE DAILY CHART.
PRICE IS CURRENTLY TESTING RESISTANCE AT .786 FIB.
50 PERIOD MA SHOWING SUPPORT AT .618 FIB.
IF/WHEN THE PRICE RETRACES IT WILL MOST LIKELY TEST THE TRENDLINE .
FIB LEVELS CAN BE USED AS TAKE PROFIT TARGETS IF SHORT.
NOTE: IN MY OPINION, I DON'T THINK THIS WILL HOLD. BIG EXCHANGES ARE SUSPENDING DEPOSITS AND WITHDRAWALS AND THE SCALABILITY PROBLEM HAS NOT BEEN RESOLVED. LET'S SEE WHAT HAPPENS...
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BULLISH NEWS:
THE CHICAGO MERCANTILE EXCHANGE, THE LARGEST AND MOST DIVERSE DERIVATIVES MARKETPLACE IN THE WORLD FILES A PATENT FOR CRYPTOCURRENCY DERIVATIVES SYSTEM.