Ugly 4hr h&s pattern on btc has a target below 7.7kthis pattern has not yet been validated quite yet but should confirm either the breakdown or the fakeout within the next 2-3 4hr candles max. Probability is currently favoring the breakdown and if that occurs the target will be 7.6-7.7k. A break downward here could also flip the momentum and lead to further downside from there with 7427 as the next potential support. We have lost our other 2 big supports of the 3day 50ma and the 8504 horizontal but still have a chance to reclaim them if this h&s ends up being a fakeout instead. If we do indeed confirm the 3day 50ma as solidified resistance it will not be a good thing and could lead to a 3 day deathcross which when that happened last time took us from 6k to 3k pretty quickly..Lets hope we can reclaim the 3 day 50ma as support to prevent any sort of 3 day deathcross.
