4 hour Head and Shoulders pattern starting to form. Bitcoin is still in a bullish trend. Waiting to see if price can close and below previous higher low to complete pattern and move to the downside.
If price manages to close above strong support at 34.5k, we could be looking for ATH's.
Price broke out of trend line, crossing the 50 EMA, breaking out of the consolidation area (39k - 42k). Price moved down towards 0.5 fib and 34.5k support. Price pulled back to retest original 1h trend line. Entered Short position just under 39k.
