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

 


Bitcoin just dropped below the neckline, at ~ 27.6k, and is now retesting its 100-day EMA at ~26.3k. It's anyone's guess if this selling has anything to do with the ongoing U.S. debt ceiling negotiation or not. Nevertheless, if it doesn't bounce off from here, bitcoin could take another dive to test the 200-day EMA, at ~24.9k.

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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