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BTC/USD drop below the trendline sparks new wave of sellers

BTC/USD drop below the trendline sparks new wave of sellers
Nenad KerkezNenad KerkezTop-XE
BTCUSD

The BTC/USD has formed a SHS pattern and we might see a drop from the top of the right shoulder.

The SHS formation looms at the resistance. 11250 zone could make the price drop towards the trendline. 10880 is the price where the trend line makes an X Cross with the ATR pivot. Below the D L4 the price should drop towards 10587, 10493 and eventually 10172. Only a close above 11300, could make the price move slightly up towards 11396 and 11642.

BTCUSD

The analysis has been done with the CAMMACD.Core System.

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Nenad Kerkez

 

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