🔥 Bitcoin Potential Head & Shoulders

Yesterday I made a post on the potential near-term moves of Bitcoin. In the end, the support didn't hold, and we saw a strong bearish move. As predicted, the 35k support seems to hold for now.

Take a look at yesterday's analysis:

Since we're likely seeing more bearish price action in the near term, there's two potential ways this trend can go.

1) We see a short bullish move today towards the orange trend line. This resistance line will hold and BTC will continue down.

2) BTC will pierce through the support, make a push towards 38.5k, and reversing from there. This option would produce a perfect classical head & shoulders pattern. Upon the completion of this pattern we could even see a bearish move back towards 30k or so.

Happy trading!