Down from the big H&S pattern

2018년 4월 5일

The H&S pattern was confirmed, but the way down was stopped on the support line at $6600. Let's see if it holds, I think it won't, given the size of the H&S. We will most likel build a bear flag and continue the way down.
There will be another support zone around $6400, the only place where the way down could be stopped.

2018년 4월 5일

노트

Got rejected on the $6653 support line and pushed back into the neck of the H&S where we have a Fibonacci price level. Bulls don't give up,they won some momentum, but I think it won't last.

2018년 4월 5일

노트

Whales are trying to push up by liquidating short positions. Yet the 50% $6817 Fibonacci level seems to hold, it acts as resistance. Only 3 whales weren't enough to break it.

2018년 4월 5일

노트

On the 15 min chart I can see a bullish MACD trend, but the volume is low and decreasing. We might succeed to have a retracement here and go up, but I don't think we can climb more than $7360 due to the huge resistance line formed there; we would need much more volume/belief for that, and many people were expecting more from the last bounce, so I think they won't push again.

Please note these are my own opinions, not an advice for anybody.