BTC Head and Shoulders on the 4H chart... Insanely Bearish?
Updated
What do you notice when looking at the 4 hour chart for Bitcoin?
When analysing the 4 hour Bitcoin chart you will notice a large head and shoulders pattern formed, switching to the 1 minute chart you will also notice a recent head and shoulders pattern, i feel that we are going to see quite the bearish market. As of the moment 31k is strong support for BTC but i fear that if we keep seeing these pattern formations we could see that support broken and perhaps turned to resistance.
What do you think?
When analysing the 4 hour Bitcoin chart you will notice a large head and shoulders pattern formed, switching to the 1 minute chart you will also notice a recent head and shoulders pattern, i feel that we are going to see quite the bearish market. As of the moment 31k is strong support for BTC but i fear that if we keep seeing these pattern formations we could see that support broken and perhaps turned to resistance.
What do you think?
Note
Zoom out on 4H chart for the Head and Shoulders
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