BTCUSDT | Head and Shoulder Pattern | H&S Short
Updated
Technical Analysis
As time passes, the BTCUSDT seems to show us a H&S Pattern.
This would marked the end of the bull run.
Also, it could be an opportunity to make a short position.
As you see, psychological price cap seems matter for Bitcoin.
The precedent new ATH failed to reach 70k and has next bounced over the lower psychological price cap.
The picture on the left almost reflect perfectly the actual BTCUST chat, that's why it makes me think that Bitcoin price will fall again, maybe to 30k in few months.
Fundamental Analysis
However Bitcoin has its lot of surprise and could explode as they more and more institution invested in. Furthermore, the trust again cryptocurrencies grows. So the near future is uncertain, however, without doubt, in the next years/decades, the adoption of decentralized protocol and cryptocurrencies will grow.
I am also curious to earing your opinion too.
Should you feel that this analysis helps you, feel free to leave a like, and I wish you a good day!
As time passes, the BTCUSDT seems to show us a H&S Pattern.
This would marked the end of the bull run.
Also, it could be an opportunity to make a short position.
As you see, psychological price cap seems matter for Bitcoin.
The precedent new ATH failed to reach 70k and has next bounced over the lower psychological price cap.
The picture on the left almost reflect perfectly the actual BTCUST chat, that's why it makes me think that Bitcoin price will fall again, maybe to 30k in few months.
Fundamental Analysis
However Bitcoin has its lot of surprise and could explode as they more and more institution invested in. Furthermore, the trust again cryptocurrencies grows. So the near future is uncertain, however, without doubt, in the next years/decades, the adoption of decentralized protocol and cryptocurrencies will grow.
I am also curious to earing your opinion too.
Should you feel that this analysis helps you, feel free to leave a like, and I wish you a good day!
Note
As we saw yesterday, Bitcoin suffered from a drawdown, due to the FED's minutes.Maybe BTC will raise a little in the near future and will see an another drawdown.
For now, this short position is still valid.
Let's see what happens!
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