Bitcoin current Head & Shoulder Pattern playing out 1 day chart
Based on the current pattern , the 10th March is a key date for Bitcoin. After a reasonable length of time the current head and shoulder pattern is almost near completion.
For me the 10th March is showing as a key date , for this date the candle direction is of interest.
Will it continue its downward direction and fizzle out under €6000 (indicated by 7 downside) or will it bounce from the support line indicated at point 6 and head back up to position 7 upside.
I am on the fence here and looking at a window from €7600 down to €7550 for confirmation of a continuation to the downside before the BTC halving in May time frame.
.Would love to hear your views
For me the 10th March is showing as a key date , for this date the candle direction is of interest.
Will it continue its downward direction and fizzle out under €6000 (indicated by 7 downside) or will it bounce from the support line indicated at point 6 and head back up to position 7 upside.
I am on the fence here and looking at a window from €7600 down to €7550 for confirmation of a continuation to the downside before the BTC halving in May time frame.
.Would love to hear your views