BTCUSDT H&S looks like formation

At the 2-hours timeframe we can see a possibility of Head and Shoulders formation. Although it is not a clear H&S all signs further decrease presence at the market as TA indicators are bearish

Overall BTC is still in bullish mood and this decrease can be evaluated as a natural correction. If the price candle at 1-day timeframe manages to close above $7 568 level next few days it will be a positive sign for further bull run. Otherwise we will have a correction till $6 161 level. The negative scenario has the higher probability now

Comment:

The candle closed above the specified level, natural correction is over and Bitcoin is bullish again. Technical indicators are in buy state moreover we receive good fundamentals.

At the 2-hour timeframe there is a clear IHS formation that is going to be finished in such conditions soon. This is a strong bullish pattern and the price will start a new cycle of impulse growth waves

Start accumulate long position