Purely based on the symmetrical price action of the 4H candles which are forming the right shoulder of a Head and Shoulders
pattern on 1D ( RSI
= 51.857), we have identified the possibility of a quick dump and pump event on Bitcoin
. This suggests that in roughly 2 days a decline will take place reaching the 7,000 Support on 1D. An equally quick rise to 8,200 may then complete th
pattern before BTC
provides us with a new short term pattern.
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