Head & shoulders pattern - Not a bullish outlook! - BTC

10 de dez. de 2022

Here's a quick look at the 4 hr. BTC chart. As we can see, the price har recently printed a Head & shoulder pattern. The head and shoulder pattern Is a bearish chart pattern which has a high probability of breaking lower!
If the price breaks below the neckline, the price will probably end up in the support zone or even lower if the price doesn't hold the support zone.
If you're in a Long trade, then a break below the neckline should be your exit/sell.
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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!