Watch This on your 4hr!Traders,
I've been reading that the second round of GBTC outflow, which contributed to the selling pressure recently, is drying up. This pattern on the 4 hour chart will either confirm or deny this rumor.
You can see the inverse head and shoulders pattern drawn. A break to the upside would target our previous high almost exactly. A failure to break the neckline by our bulls would result in our dropping back down to that multi-year trend-line (now acting as support) from 2019.
Watch this closely and set your alerts accordingly as I believe this is the key indicator telling us what Bitcoin will do for at least this week.
Best,
Stew
