On a 1-hour chaer, BTC
is in the process of making a Head and Shoulders
Pattern which is going to complete soon. The 25-EMA is acting as a resistance line. Considering this scenario, BTC
can go up to $9,000 mark before heading lower. When the right shoulder is formed, a break below the neckline with high volume
will complete the pattern. If the pattern is completed with a breakout below the neckline, the price target of BTC
will be around $7,500.
For education purpose only, not an investment advice.