Bitcoin: Technical picture remains negative [Video]
|Weekly
Technical picture remains negative clearly highlighting a POTENTIAL head & shoulders formation. A break and close below the neckline ($30k) would confirm this for me.
Daily
Chart shows an impulsive move lower and currently trading within wave 4 (corrective) prior to the 5 th and final wave. Resistance sits in front of $42k with next supports at $30k & $20k.
4-Hour
Range bound and trading within a rectangle formation. Near term support between $30-31k has held 4 times and a break of here should lead to a fast move lower towards $18-20K. Resistance comes in at $36k before $41-43k.
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