The Set Up:
Yesterday, we saw bitcoin turn sideways, retreating from 244 but respecting the 231 support pivot. As price rebounded, we noted a potential development of the right shoulder of a head and shoulders pattern. The theory is that is price can hold under 238, a right shoulder would be formed and the pressure would be on the 231 neckline. As we began the May 7th Asian trading session btcusd fell sharply, breaking […]
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