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StevoMoe

Bitcoin Head & Shoulders with Bearish Divergence

Short
BTCUSDT SPOT (BYBIT:BTCUSDT)  
StevoMoe  
BYBIT:BTCUSDT   BTCUSDT SPOT
Head and Shoulders Oscillators Trend Lines Bearish Patterns Bitcoin (Cryptocurrency) pullback altseason
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headandshoulders oscillator trendline bearish bitcoin pullback altseason
  • Bitcoin looks to have printed a Head & Shoulders pattern on the 4 hour as you can see.
  • Now looking at the RSI I have marked the bearish RSI with the yellow lines, it is not looking good for bitcoin.
  • More downside for bitcoin would be healthy and would allow for a great transition to an alt season in my opinion. However if it breaks this pattern I expect bitcoin to rally up to the 70-80k region before seeing a significant pullback.

Let me know your ideas in the comments, I would love to see some other view points.

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