Short Term Trading Idea – H&S falling to Support or 200 MA.

Bitcoin / Dollar BITSTAMP:BTCUSD

Head and shoulders almost formed. Looks like we might see it break down to either the 8800 support area or through to the 200 MA (4800 on the hourly) at 8675 around the yellow ellipse. We might see a small bounce up from there and then we’ll see if that holds or more likely we’ll go down further likely to somewhere between the 8250-7850 area where we may then resume the uptrend.

By admin