Research Snappy
  • Market Research Forum
  • Investment Research
  • Consumer Research
  • More
    • Advertising Research
    • Healthcare Research
    • Data Analysis
    • Top Companies
    • Latest News
No Result
View All Result
Research Snappy
No Result
View All Result

Bitcoin Price Analysis: Head & Shoulders Breakdown on 4H

researchsnappy by researchsnappy
January 24, 2020
in Healthcare Research
0
Bitcoin Price Analysis: Head & Shoulders Breakdown on 4H
399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter

Bitcoin is currently probing support at $8,290 on Coinbase.

The digital currency broke below $8,460 on Thursday, confirming a downside break of a three-day trading range and signaling a continuation of the pullback from highs near $9,200 seen on Sunday.

Majority of analysts took note of the range breakdown while calling a deeper drop to $8,000, but missed the head-and-shoulders breakdown, which was confirmed after prices fell below $8,380.

4H chart

Having suffered a range breakdown in the European trading hours, bitcoin secured a foot hold below $8,380 in the North American session, signaling a head-and-shoulders breakdown.

The overnight rejection at the neckline resistance (former support) reinforced the head & shoulders breakdown.

So, with bears in control of the market, the cryptocurrency could soon breach the immediate support at $8,290 and extend the sell-off toward $8,000.

On the higher side, a strong move above $8,500 is needed to abort the sell-off.

Previous Post

Edited Transcript of CVBF earnings conference call or presentation 23-Jan-20 3:30pm GMT

Next Post

Consumer Electronics Market Size, Share, Future Growth

Next Post

Consumer Electronics Market Size, Share, Future Growth

Research Snappy

Category

  • Advertising Research
  • Consumer Research
  • Data Analysis
  • Healthcare Research
  • Investment Research
  • News

Pa. Republicans reconsider Pitt funding over fetal tissue research, college voucher program

Arthur Pharma Closes Series A Financing Round

YouTube and the Achilles Tendon: An Analysis of Internet Information Reliability and Content Quality

  • Privacy Policy
  • Terms of Use
  • Antispam
  • DMCA
  • Contact Us

© 2022 researchsnappy.com

No Result
View All Result
  • Market Research Forum
  • Investment Research
  • Consumer Research
  • More
    • Advertising Research
    • Healthcare Research
    • Data Analysis
    • Top Companies
    • Latest News

© 2022 researchsnappy.com