Here's a quick look at the 8 hr BTC chart. As we can see, the price has recently printed a Head & shoulder pattern. The head and shoulder pattern Is a bearish chart pattern with a high probability of breaking lower!
The market will take a hit if inflation is 6.4% or higher. Therefore keep an eye on the CPI data release!
If you're in a Long trade, a break below...
It looks like we may be forming a W pattern or double bottom reversal pattern.
If this is the case we may be in for another week of downtrend before the reversal.
Be prepared.
