![sbZYAzHJ_mid.png](https://steemitimages.com/DQmUvDAMFRRNs8gSZ4GZS227WeocnDgpUuWhwjixhmgnP4X/sbZYAzHJ_mid.png)
howdy pals! on the four hour chart, we are able to see that BTC -four.29% has been rejected on the 50 and 2 hundred EMAs, and is heading lower now to check the rising inexperienced dashed trendline . consider me after I say, that may be a degree that the bulls do now not need to lose. Having originated on nine/22/17, it has grow to be a key stage to watch. you can see that the ultimate time it fell, BTC -four.29% plummeted straight to the bottom of the downtrend channel . this is an ominous reminder of ways grotesque matters may additionally become, as BTC -four.29% prepares to dip it is toes in the lava. just beneath the growing green trendline , is the seventy eight.6% retrace, at approximately 8686.zero. If BTC -four.29% takes out that degree as properly, matters may want to get actually nasty, in the sense that it is able to produce a retest of the 6000 stage


we've been assessing this viable inverse head and shoulders sample (in inexperienced,) and you can see that the current price movement is still in step with the capacity formation of this sample. but, as you all understand, we were assessing the improvement this as a HYPOTHETICAL sample. For educational functions, I instructed you that it become wise to be in cash, as soon as BTC -four.64% did not breakout of the downtrend channel . Now, you could in reality see why. we are either in a full blown bearish correction, or we're forming an inverse right shoulder. You don't need to be within the marketplace, while the technicals are blended. however now, it is crunch time. Now, we need to peer a reversal to the upside, and we need to see it quick. i've pulled my bull mask up, exposing my face, and my bear mask is asking. If the green dashed trendline is violated, Magic will placed the undergo masks on faster than you can say "i like Magic."