After bouncing off the bottom support, Bitcoin seems to have regained short-term bullish momentum. In this analysis I want to discuss the potential H&S pattern that BTC is forming in the near term. My longer-term view is still bearish, but that doesn't mean we can't get a bounce here and there.
In my eyes, there is a potential for BTC to move further up. The odds are against the bulls at this point, but there's still a chance that this pattern will play out.
The 30k-31k area is going to be key. Not only because of the number, but also because it's the April'23 high. Would be a perfect bearish entry.
Do you think this pattern will play out? Share your thoughts in the comments 🙏
In my eyes, there is a potential for BTC to move further up. The odds are against the bulls at this point, but there's still a chance that this pattern will play out.
The 30k-31k area is going to be key. Not only because of the number, but also because it's the April'23 high. Would be a perfect bearish entry.
Do you think this pattern will play out? Share your thoughts in the comments 🙏
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