BTC H&S ON THE WEEKLY?
Am I doing this correctly? (my first post)
Following a trend line from 2015 we can see a "resistance" just below 50k, I would like to see just a bit more consolidation here before breaking past that mark.
From what I'm looking at on the weekly chart, declining volume across the board as well as lower highs on the RSI and a cross-over on the MACD. Touching the upper part of our Bollinger Bands as well.
This looks to me like we'll see a slight pull back perhaps from 41k down to 36k which would put us into a possible head and shoulders formation.
If this develops in this fashion I believe we will be seeing the true bull run commence sometime starting in around May-June.
I would like to see some sideways action here to strengthen support in these key 40k areas.
How mad would you be if we went sideways from here?
BTCUSD
Following a trend line from 2015 we can see a "resistance" just below 50k, I would like to see just a bit more consolidation here before breaking past that mark.
From what I'm looking at on the weekly chart, declining volume across the board as well as lower highs on the RSI and a cross-over on the MACD. Touching the upper part of our Bollinger Bands as well.
This looks to me like we'll see a slight pull back perhaps from 41k down to 36k which would put us into a possible head and shoulders formation.
If this develops in this fashion I believe we will be seeing the true bull run commence sometime starting in around May-June.
I would like to see some sideways action here to strengthen support in these key 40k areas.
How mad would you be if we went sideways from here?
BTCUSD
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