Bitcoin, Completes Head-Shoulder-Formation, Further Objections!

14 Apr 2021

Hi,

Welcome to this analysis about Bitcoin, we are looking at the local 15-minute timeframe perspective. As Bitcoin recent times has shown up with some strong bullish volatilities to the upside it moved into an overbought condition and now as I discovered has formed a head-and-shoulder-formation marked with the neckline in blue. This head-and-shoulder-formation already completed with this bearish move below the neckline which it is now confirming as it is shown in my chart, this confirmation activates the downside targets between 61200-61400 which are als supports, when Bitcoin reaches out there it has to be elevated if it manages to stabilize or sets up for further bearish continuations.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
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Information provided is only educational and should not be used to take action in the market.