Open Bitcoin Trading Account... Bitcoin Bulls Alert This Head & Shoulders Pattern Could Trigger Viol

Please change your life!!! Click on the link! http://youtube.com+watch=@3162039724/Yhqr
Can you afford this thing?: http://youtube.com+watch=@3162039724/orwTH
Software at the best prices: http://amzn.com@3162039724/f3ANs

Bitcoin traded to a new 2020 high at $9,575 and recently corrected lower against the US Dollar. It seems like a head and shoulder pattern is forming, which could drag BTC towards $8,800. This past week, bitcoin extended its upward move above the $9,200 and $9,400 levels against the US Dollar. BTC price even spiked above the $9,500 resistance area and settled above the 100 simple moving average (4-hours). However, the bulls struggled to remain in action above the $9,500 resistance area. A high was formed near $9,575 and the price started a downside correction. It traded below the $9,440 and $9,400 support levels. More importantly, there was a break below a major bullish trend line with support near $9,400 on the 4-hours chart of the BTC/USD pair. Besides, bitcoin traded below the 23.6% Fib retracement level of the larger upward move from the $8,214 low to $9,575 high. The price is now trading near the key $9,150 support. Furthermore, it seems like a crucial head and shoulders pattern is forming with support near $9,150 on the same chart. If there is a downside break below the $9,150 support, bitcoin bears are likely to take control. In the mentioned case, the first target for the bears could be $8,895. It coincides with the 50% Fib retracement level of the larger upward move from the $8,214 low to $9,575 high. The main supports below $9,000 are near the $8,880 and $8,800 levels. Moreover, the 100 simple moving average (4-hours) is also near the $8,800 area. Therefore, the bulls are most likely to protect the key $8,800 support level in the near term. It is quite clear that $9,150 is a breakdown support area. If bitcoin bulls are able to protect the $9,150 support, the price might restart its upward move. On the upside, an immediate resistance is $9,400. The main hurdle is near the $9,500 and $9,580 levels, above which the price is likely to surge towards the $10,000 barrier. Technical indicators4 hours MACD – The MACD for BTC/USD is slowly gaining pace in the bearish zone.4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is just below the 50 level. Major Support Level – $9,150Major Resistance Level – $9,500

All data is taken from the source: https://www.newsbtc.com/
Article Link: https://www.newsbtc.com/2020/02/02/bitcoin-bulls-alert-inverse-head-shoulders-pattern-forming/

#support #cryptogrampuzzles #bitcoinconverter #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange

Bitcoin Bulls Alert This Head & Shoulders Pattern Could Trigger Violent: https://www.youtube.com/watch?v=Ivs7ltoAUIE