Supports and Resists!

Let the Chart speak....

Commento:

We have seen a break of the shortterm uptrend tonight. The first supports turned into resists!

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a new green "2" is born - like exspected

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last resistance is 610$! below that i exspect a little selloff to 560$/ 540$. Prices below 540 would be catastrophal

Commento:

Now rebounds till the regions of the fibos 636/6944/652 are thinkable. (minimal/normal/maximal correction) for me 644 could be a nice turnaround level - this was the last valid green 22". Prices below 610 will perhaps cause a little selloff

Commento:

only prices above the central pivot resistance @ 680 will brighten the chart and open the way to the top @ 780

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ultrashorttermview (blue count) : prices below 625 will accelerate the bearish momentum

below 610$ the next downwave could be initiated with flag tp @ 596-600

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follow-up: BTCUSD: Shortterm H&S?

The yesterday mentioned "last supportzone @ 610" could be defended. The temporarily broken support @ 625 turned again into a supportlevel. The strong selloff to 610 was bought two times, a double bottom appeared at that Niveau. The double-bottom-move catapulted btc to it`s normal correction Niveau at 644 (fibo 0,5)
Now this Niveau (644) is central! This Niveau is corresponding to a possible neckline of the potential H&S in the 15min Chart.
As Long as we trade below that Level, especially below 636, a new sellingwave can be exspected with TPs: 625 / 610. Prices abobe the neckline could indicate a shortterm longsignal with tps: 652/660. All my thoughts and illustrations of yesterday are still valid.
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