Based on TA, Bitcoin is forming a head and shoulders pattern
and the current uptrend is too sharp, so it looks like it will retrace to the second trend line and two price points to focus on:
Breaking $58333 means that we might head lower to $55.7k
and breaking $55.7k means that we will head to $53k
so if you are looking to short those are the two price points I would take profits at
and if you are looking to buy i'd buy at these two price points but I'd wait for a confirmation (candlestick pattern)
what do you think?
and the current uptrend is too sharp, so it looks like it will retrace to the second trend line and two price points to focus on:
Breaking $58333 means that we might head lower to $55.7k
and breaking $55.7k means that we will head to $53k
so if you are looking to short those are the two price points I would take profits at
and if you are looking to buy i'd buy at these two price points but I'd wait for a confirmation (candlestick pattern)
what do you think?
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