BTC has been forming what looks to be a big Inverted Head and Shoulders pattern at the 0.786 PCZ of a Macro Bullish Cypher and today it tried to make a higher high but failed to maintain relative strength. Now we are in a scenario where it is quite likely that BTC will retrace from here and form what would be a Potential Right Shoulder to test $20k-$16k one last time before ripping to the upside.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.