BITCOIN Poised for 16K Pullback
The daddy of digital assets looks poised for a short-term healthy pullback to the lower $16,000 range before resuming uptrend. This is further supported by a potential head and shoulders pattern that paints a similar downside target. If there is more upside to this market, we would expect the BTC price to hold above its crucial trendline support. Otherwise, a daily close below the said trendline would be devastating to bulls.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.