Bitcoin: H&S formation is on a new week agenda
We trust you have managed to cope with either situation this market posed to you over the week-end! On Sunday midnight, the 29th of August, the price confirmed to get out of a channel thus leaving the investors above 49300 with their loosing positions. And that was the signal to look for a trigger to sell. 47700 is a nice one for that as it stands just behind the neck of a newly formed H&S formation. Let us make an assumption that today’s break of an orange neck line will lead to a descending tendency after the price bounced back from spin low of 46700. The ultimate goal of this idea is 40100.