In the last hours Bitcoin has broken the downtrend line and the price is ending to form a Bullish Shoulder Head Shoulder
Let's see
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After the abrupt drop in the price of Bitcoin in the last week, we see that the price has tried in recent days to break the bearish channel without success.
In the chart we can see a breakdown point in which price accelerates its fall and we see that it has not yet managed to break.
Analysis of the last hours
What we do see in the price of Bitcoin is that in the last hours, it breaks the downward trend line, which is a bullish signal, in the short term.
In the last few days, I see a possible SHS formation in the price of Bitcoin.
At the time of making this post, we see that the price would be forming the right man.
When it forms it could retest the bearish channel and start, again an upward momentum
If it breaks to the upside, confirming the figure, it would bring the price close to $ 50,000.
Fibonacci
This range of $ 48,000 - $ 50,000 will consider a 50% fibonacci retracement, a key price to define a trend.
And what do you think?
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Protect your assets use Stop loss
The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
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