Bitcoin has a clear break of diagonal shoulder resistance on 4 hr, but still inside the right shoulder of a potential head and shoulders pattern. RSI showing nothing substantial, MACD is hinting at a move upward. Decreasing volume. Seems an even mixture of bear and bull sentiment out there, hard to read. Will wait for clear up break of head and shoulders before adding/entering. If pattern breaks down will try and catch the wick at horizontal resistance around $9720, also roughly 200 MA, to add to long term position. I believe this is start of something big and is just like the first blow off top that started the 2015 bull.
Note
"If pattern breaks down will try and catch the wick at horizontal resistance around $9720, also roughly 200 MA, to add to long term position"...Meant to say Horizontal support here instead of resistance.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.