After the expected correction down to the left shoulder level, Bitcoin found support and is in the process of completing a possible head and shoulders bottom pattern. A strong breakout above the neck line level should trigger more traders into long positions and push Bitcoin higher. A more complex pattern could also emerge here as the right shoulder consolidates...
Although BTC is attempting a head and shoulders bottom on the daily chart, it needs further consolidation while making a more complex right shoulder pattern. Expect a correction on the shorter time frame intraday charts while looking for support around the potential left shoulder lows.
