BITCOIN (BTC/USD): Beware of the head and shoulders chart pattern

 


Bitcoin has been trading between the major resistance level at 30k, where bitcoin is facing an overwhelming amount of overhead supply, and its 600-day EMA / 27.6k. Beware that a head and shoulders chart pattern has emerged. If the 600-day EMA/27.6k support levels can't hold, bitcoin could pull back to retest the March 17 breakout at ~ 26k.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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