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x4fcqmrdz5

4H Head and Shouders Formation

Short
BTC Linear Perpetual Futures Contract (PHEMEX:BTCUSDT.P)  
x4fcqmrdz5  
PHEMEX:BTCUSDT.P   BTC Linear Perpetual Futures Contract
Trend Analysis Chart Patterns BTCUSDT perpetual chartpatternanalysis headandshouldersformation
6
2
trendanalysis chartpattern btcusdt perpetual chartpatternanalysis headandshouldersformation
The closing price of the second shoulder is observed to be lower than the first shoulder, indicating a potential reversal pattern. Furthermore, the price action is positioned below the 200-day Moving Average (EMA), reinforcing the bearish sentiment. Additionally, I noticed seven candles on the first shoulder and head. BTCUSDT.P May 7, 2024, 2:25pm
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