Last quarter 2021 BTC/usdt. Trend evaluation since the 69k ATH seems to start to look like a potential head & shoulders. I was expecting the 53.8k zone for a correction since before the 69 ATH breach and was taken by surprise by the leg up from 67k to 69k, due to the amount of over leveraged long positions similar to May 2021 levels I was expecting an earlier correction.
The situation right now is very much in balance to holding the October lows around 53k.
Confirmation of a H&S pattern would be a bearish scenario, but normally the first 2 weeks of December should be green thus if confirmed, expect the big leg down after the 15th of December.
The situation right now is very much in balance to holding the October lows around 53k.
Confirmation of a H&S pattern would be a bearish scenario, but normally the first 2 weeks of December should be green thus if confirmed, expect the big leg down after the 15th of December.