BTCUSDT ! Head And Shoulders pattern formation. What's next?🤖
Updated
BTCUSDT is trading in an upward price channel. I believe that this channel is a local correction in a global down market.
On the chart, we can see that the price updates the local tops of the 24200 level and forms a false break after capturing the liquidity. The price returns to the range, under the 23360 level, thus forming a Head and Shoulders pattern.
I assume that after the price fixes under 23360 level, the crypto coin may start to work out this pattern and we may see a downward movement. Short-term target is the border of the channel and support level 21650, if we manage to break this channel down, the key target will be support 20185.
Regards R. Linda!
On the chart, we can see that the price updates the local tops of the 24200 level and forms a false break after capturing the liquidity. The price returns to the range, under the 23360 level, thus forming a Head and Shoulders pattern.
I assume that after the price fixes under 23360 level, the crypto coin may start to work out this pattern and we may see a downward movement. Short-term target is the border of the channel and support level 21650, if we manage to break this channel down, the key target will be support 20185.
Regards R. Linda!
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