Bitcoin head & shoulders reversal pattern
Bitcoin price reached the upper line of the monthly VWAP and is forming a bearish head & shoulders reversal pattern after the bull run from the bounce on yearly highest volume node at 41800$.
The volume is decreasing.
We have a bearish divergence on momentum.
We have a bearish divergence on CVD (Cumulative Volume Delta, not shown on graph).
The target is 42800$ which is the local Fib 0.238 retracement.
The volume is decreasing.
We have a bearish divergence on momentum.
We have a bearish divergence on CVD (Cumulative Volume Delta, not shown on graph).
The target is 42800$ which is the local Fib 0.238 retracement.
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Bitcoin price reached the yellow box area at 42900$ and has made the -2% from H&S neckline.
