BTC Bounce Back-4/1/21--Part 7

Hello everyone, JT here for your crypto analysis.*(I am not a financial advisor do not buy/sell based on my analysis). Since the last time I posted, BTC decided to go my pink trend line (part 6) to the downside. We found resistance and broke back up and now we are looking at a head and shoulders potentially which I have drawn in black. However this is not the first time BTC has made this formation on the daily chart during this bull cycle. In November we had a similar formation which I circled in green and what would have been the right shoulder, turned out to be a break to the upside which rose BTC 116% before any major pullback. This is a pretty critical time for the chart and again we are at crossroads. I am still bullish long-term but for the short-term I am neutral until we get some clear indication of BTC's direction. I'll update again once it decides. Best of luck!

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