Possible Head and Shoulders Formation Becoming Visible for BTC
I would not be surprised to see a drop back to support here with a head and shoulders formation beginning to fall into place. We would need major volume to push above the 150 day moving average which we have bounced off of multiple times acting as a resistance. If we fall back into support, expect more downside from there. If volume picks up and we see a bounce, expect it to rise to around the 8600-8700 level before a sell off once again.
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