Bitcoin bearish reversal pattern on the 4hr at the daily/weekly demand turned supply level from the recent breakdown in May. Shooting star on the daily, over-under reversal pattern on the 4hr with retest and breakdown below the rising trend structure. Also resembles a head and shoulder formation.
I am expecting rallies to be sold into. Conservative stops should be above the highs or a key 4hr resistance level . Understand bitcoin is volatile and can whip-saw you out of the trade.
As the daily trend is up initial target is around $41,000, with further price action required to confirm a larger move.
All IMO, do your own DD, good luck
I am expecting rallies to be sold into. Conservative stops should be above the highs or a key 4hr resistance level . Understand bitcoin is volatile and can whip-saw you out of the trade.
As the daily trend is up initial target is around $41,000, with further price action required to confirm a larger move.
All IMO, do your own DD, good luck