BTCUSD Head and Shoulders or Market Correction
Looking at the 4 hour chart the pattern looks like a Head and Shoulders, but is it? There are a few thing to note:
On the one hand:
The Daily MA50 Crossed the MA200 - Bullish Setup
BTC Halving is ~3 months away - Historically Bullish
$500 bullish candle on 2/11 - Perhaps a small short squeeze or series of large buy orders getting executed
On the other hand:
MACD and RSI turned south
Volume is still relatively low
$600+ bearish candle on 2/19 - Perhaps a small long squeeze or series of large sell orders getting executed
One thing is for sure; volatility is back! Welcome home Bitcoin.
This is just an observation of chart patterns. It is not meant to be a recommendation of any kind. do your homework and please hit the like button.
On the one hand:
The Daily MA50 Crossed the MA200 - Bullish Setup
BTC Halving is ~3 months away - Historically Bullish
$500 bullish candle on 2/11 - Perhaps a small short squeeze or series of large buy orders getting executed
On the other hand:
MACD and RSI turned south
Volume is still relatively low
$600+ bearish candle on 2/19 - Perhaps a small long squeeze or series of large sell orders getting executed
One thing is for sure; volatility is back! Welcome home Bitcoin.
This is just an observation of chart patterns. It is not meant to be a recommendation of any kind. do your homework and please hit the like button.
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