BTC Head and Shoulders Forming

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BTC is forming a Head and Shoulders Top on the daily. BTC has broken through the lower ascending channel line and confirmed. A way to go before the H&S formation hits the neckline but I'll be keeping a watchful eye and my powder dry on the longs until this plays out. $47/48K to complete the pattern. This is not trading advice, but the simple thoughts of a retail trader.