BITCOIN (BTC/USD): Beware of the head and shoulders chart pattern (update-2)

 


Bitcoin continues to get rejected at its 600-day EMA / the neckline of the head and shoulders chart pattern, at ~ 27.6k. Concerns about SEC regulations for crypto currency trading sent BTC down to test its 200-day EMA on Monday. But, beware that bitcoin could take another dive to a key support level, ~24.2k, if it breaks below the 200-day EMA.

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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