BTCUSD on daily chart falling under resistance SHORT

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비트코인 (BITSTAMP:BTCUSD)

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BITSTAMP:BTCUSD 비트코인

supportandresistance headandshoulders volatility btcusd btc shortbitcoin shortcrypto volatilityflip reversalpattern cryptominers shortcryptominers containsimage

BTC in the recent past put in a head and shoulders pattern. The neckline drawn onto the chart

is above current price and rejecting it. Volatility has flipped decidedly. News is that Bitcoin

and crypto ETFs have had several consecutive days of outflows some perhaps when stop gold

spiked. Dollar value has a role in this as well as it dipped and then recovered. I have followed

the crowd and sold my position for now and will look for a near term bottom when it

develops for re-entry. CLSK is down and other crypto-related stocks may now down trend.

Looking at MSTR, RIOT and BTBT.

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News :

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BTCUSD buyers moving price to the neckline but cannot break the resistance.
Volume is not the best ( needs heightened volume support); Shorts likely hitting
the price at or under the line and taking positions in the tug-o-war.

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Pattern repeating inside the pattern more bearish bias

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RIOT

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CLSK

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Cryptomarket falls

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BTCUSD priee action with bearish bias with overvalued band now lower than
necklines of H & S ( the dotted black line above the price action. Upward price volatility is fading. the tug of war is over for now. Buyers are outnumbered by those entering as a short and those selling to realize profits.