Potential H&S

6 Mar 2021

A potential head and shoulders pattern might be forming on the 1 hour chart. If we continue to go down to 46,000 level, the targe to the down side is at 40,300 level, at least in the next few days.

I'm still bullish on bitcoin this year and this downside we might experience is healthy for bitcoin as we are overvalued on the 20 week MA.

Cheers,

6 Mar 2021

Not

H&S almost formed. May dump in the next few hours