Guys, unfortunately, I'm very bearish on Bitcoin... price has, in my opinion, formed a bearish H&S Pattern on the 1W timeframe and the neckline has already been broken.
In addition, a very strong support level has been broken, the only thing we can hope for is a HUGE bullish Impulsive move which would make this a false breakout, however, volume is growing and it's...
This is a great example of an H&S pattern and even though I could've entered after the neckline had been broken I prefer to wait for the first pullback to give myself a better RR Ratio. Price has also reacted consistently to Fibonacci Levels, which lets us predict pretty accurately where the pullback will top.
Hope this analysis was somehow helpful, have a good...
