Here's what needs to happen if a Head & Shoulder pattern plays out for BTC on the daily.
-It's forming a head now and it needs to stay below $53K and not break below $41K
-Once it tests $41K it needs to test $53K and move back down below $41K (right shoulder)
-Low volume will cause BTC to drop to all time lows of $13K to $20K (when neckline fails)
-It's forming a head now and it needs to stay below $53K and not break below $41K
-Once it tests $41K it needs to test $53K and move back down below $41K (right shoulder)
-Low volume will cause BTC to drop to all time lows of $13K to $20K (when neckline fails)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.