what's up trader ... here we have another analysis for bitcoin
1- since 02/07 btc is moving in sideway channel (orange rectangle) but the price make false break out (blue rectangle) and the price didn't reach the upper channel limit this gives(due to the price action) an idea that any break in the other side maybe true
2- now the price has formed H&S pattern if the pattern complete this will take the price down to retest support area (5800)
if the price break head zone it will give more power to the up trend
be careful and good luck :-)
1- since 02/07 btc is moving in sideway channel (orange rectangle) but the price make false break out (blue rectangle) and the price didn't reach the upper channel limit this gives(due to the price action) an idea that any break in the other side maybe true
2- now the price has formed H&S pattern if the pattern complete this will take the price down to retest support area (5800)
if the price break head zone it will give more power to the up trend
be careful and good luck :-)