H&S on Bitcoin Daily Is Now Confirmed!
#bitcoin #crypto #bearish
Trading Fam,
Not a long post here, as I have said enough on this in many of my previous posts. Just wanted to update you on the Head and Shoulders pattern. Our candle close today has now confirmed a break in the neckline. This is bad. We will now look to the weekly candle close to confirm further price action down. The weekly could save us. But this is doubtful.
Remember, I have outlined at least 6 additional strong bearish patterns in previous posts that have all been confirmed. This H&S was really the final nail in the coffin. My target down remains a rough 40-50k. If we’re lucky, we’ll turn up again at 60k. But that remains to be seen.
One more note and something to keep an eye on, Michael Saylor’s MSTR BTC buy-in price is roughly 74k. If Bitcoin breaks below that for any sustained amount of time, things could get spicy!
The show must go on.
✌️Stew
