Daily Bitcoin Update - Caution needed right now!

Evening all,

As usual the TA is in the video. Just some quick notes.


- IMO - I am not convinced that Bitcoin will break higher on this occasion
- Will the Inverse Head & Shoulders be invalidated?
- Attempts to break higher have been met with intense sell pressure.
- There is a lack of volume
- Bitcoin unable to break the upper trendline.



In the video i have highlighted both the bullish and bearish ideas and also looked at support should Bitcoin break down from this pattern. I would look for a short position if the Inverse Head and Shoulders is invalidated or Bitcoin get's rejected again from the upper trendlines.



Thanks

SIMON BPOI
(Don't forget to boost)