Bitcoin May 3, 2021
BTC comfortably above the (potential) inverse head & shoulders neckline.
BTC comfortably above the (potential) inverse head & shoulders neckline.
Bitcoin is moving inside a well-defined $3K price range, with respective targets and stop-loss.
The inverse head/shoulders neckline is the next big area of support for bitcoin.
Bitcoin support/resistance roughly defined by the 10.5K-14K rectangle.
Inverse head & shoulders on bitcoin daily neckline could provide a new entry point with a close stop-loss. The $14k high is the first big target.
Bitcoin is offering nothing but a major bull trap and some unfavorable risk/reward for now.
Bitcoin: Diamond-like patterns are often precursors of market tops.
Bitcoin failed to make a new swing high and subsequently broke the 2-month old uptrend line. The rectangle area below is the next support in case of further weakness.