Dangerous Situation on Bitcoin

3月22日

As you can see on the chart, Bitcoin has formed most of a head and shoulders pattern, although it has yet to break down to form the right shoulder. It is possible that it will retain the uptrend, but if the price reaches 60k this could indicate a major pullback. If the pullback does occur, my target levels would be around 50k, as that has been a heavily traded area in the past. If it holds above that 60k support level, however, we could see a major bounce back up to all-time highs. Regardless of what happens, I would be extremely cautious buying crypto in the meantime. Good Luck!