- Bitcoin looks to have printed a Head & Shoulders pattern on the 4 hour as you can see.
- Now looking at the RSI I have marked the bearish RSI with the yellow lines, it is not looking good for bitcoin.
- More downside for bitcoin would be healthy and would allow for a great transition to an alt season in my opinion. However if it breaks this pattern I expect bitcoin to rally up to the 70-80k region before seeing a significant pullback.
Let me know your ideas in the comments, I would love to see some other view points.