Long

Updated

BTC - Head and Shoulders Bear Trap Reversal - Take 3

Third Analysis of potential Bear Trap H&S Reversal.

Key:
Vertical dotted lines = weekly close
Vertical dashed lines = mid week point
Horizontal purple lines = Fibonacci levels
Horizontal blue lines = Price levels
Orange line = 77 SMA
Yellow dotted lines = Gann Fann
Dashed white line = Bear trend resistance
Purple arrows = Price action prediction

Note

Note

Resistance breakout, I didn't expect a breakout for a while longer

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Potential resistance test

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ADX = 50, RSI overbought, should pullback to point of control at around 3800

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Bull channel

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Potential cup and handle

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12 Days, 200%

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Nested Head and Shoulders Reversal Pattern

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$12,000 in 12 Days

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Head and Shoulders may be off but the outlook is still bullish

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Gann support holding

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Bullish MACD on 343 min

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Still looking at 12K, but now seems more likely to hit at the end of the month.

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Circle indicates open of the NASDAQ, likely to begin the bull run in bitcoin as traditional markets begin deleveraging.

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Adjusted Gann Fan

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NASDAQ premarket open

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Still bullish

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Daily divergence indicators remain bullish

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3 attempts at bearish break can often signal a coming bullish break

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BTC over 4K and through down trend resistance as the Dow Jones opens below the phase 4 trend line

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Potential H&S

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RSI support on trend

OrigamiOracle

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