, along with many other cryptocurrencies, has printed a huge ominous head and shoulders
pattern on it's chart. It has also formed another smaller head and shoulders
pattern, as it moves closer and closer to the apex of the triangle that it is in. These patterns are very bearish
. Momentum in BTC
has fallen, and the volume
is dropping, signaling exhaustion in the market. Should bitcoin
breakdown from the bottom side of the triangle, prices could qickly fall back to the $11,000 handle, and potentially lower.
Remember, when you need accurate analysis, turn to your trusty ol' friend, the MagicPoopCannon. =D
***This information is not a recommendation to buy or sell. It is for educational purposes only.***
Happy New Year Everyone!!