So far, looking at the four hour chart, bitcoin has followed the inverse head and shoulder pattern (Green) and if it continues to do so we are ready to go to the moon. But if BTC breaks the inverse head and shoulder pattern and heads downwards crossing the (Red) then there are chances that it will follow the trend it has been following from the beginning of February month (Blue).
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This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
If BTC follows the inverse head and shoulder pattern with deep right shoulder, it might head upwards. But, if it heads down and fails the (Red) support level then we may see even more downfall in the price of BTC than last time (6th Feb). Fingers crossed.