BTC mid term

Aug 19, 2018

as you can see we are in the trading range which looks like a triangle. we rejected fro 20 ema so we will have a retest of the lower band. the high probability senario is that afterwarrds we will see a bullrun to the upper channel. the low probabitliy senario is we break out from the lower band and make a new downtrend channel. if you look at current price action there is a head and shoulders pattern, but remember that this pattern is a bull reversal and we have no bull trend here so this is one wired looking head and shoulders to me, and anyone who takes a look at it and difines it as a bear reversal pattern.