Bitcoin (BTCUSD) on the 15-minute timeframe has formed a classic Head and Shoulders structure, a well-known pattern often associated with possible short-term trend reversals.
Key Details:
Pattern: Clear Left Shoulder, Head, and Right Shoulder formation.
Neckline Level: Around 107,437 – currently acting as a crucial support zone.
Trendline: Price has broken below a short-term rising trendline, confirming pattern completion.
Volume Analysis: Volume increased during the formation of the head, hinting at a potential shift in sentiment.
Note: A confirmed close below 107,400 may attract further downside movement. Conversely, holding above this level could lead to consolidation or recovery.
This analysis is intended for educational purposes—please evaluate risk and confirm with your own strategy before taking any trade decisions.
Key Details:
Pattern: Clear Left Shoulder, Head, and Right Shoulder formation.
Neckline Level: Around 107,437 – currently acting as a crucial support zone.
Trendline: Price has broken below a short-term rising trendline, confirming pattern completion.
Volume Analysis: Volume increased during the formation of the head, hinting at a potential shift in sentiment.
Note: A confirmed close below 107,400 may attract further downside movement. Conversely, holding above this level could lead to consolidation or recovery.
This analysis is intended for educational purposes—please evaluate risk and confirm with your own strategy before taking any trade decisions.
Trade active
let's trade active now Trade closed: target reached
hold for 5 hours 
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.
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.