Bitcoin (BTC) - Bearish Short Term

Bitcoin has formed a Head and Shoulders pattern recently on the 1 hour time frame. This pattern tends to be bearish and could potentially lead to a price drop to the next level of support at: $99,000.

If bulls hold selling pressure, and this pattern does not break, we cannot say that the price is bearish for certain long term. Therefore, we should wait for this pattern to break to confirm a bearish trend. If price doesn't hold above: 99K, then it will continue to the downside of 95K.