#BTC update - #Bitcoin formed an head an shoulder pattern
#BTC update - #Bitcoin formed an head an shoulder pattern in 1 hour time frame.
Ideally it should break down, if it does immediate target is $38106.
But it seems like it is breaking upside( not confirmed), then the target will be $40273. (1 hour RSI is showing bullish divergence)
If it reaches the upside target of $40273 it will form a double bottom structure and will move to the upside and the target will be $40879.
Good luck. Trade after the break out.
Ideally it should break down, if it does immediate target is $38106.
But it seems like it is breaking upside( not confirmed), then the target will be $40273. (1 hour RSI is showing bullish divergence)
If it reaches the upside target of $40273 it will form a double bottom structure and will move to the upside and the target will be $40879.
Good luck. Trade after the break out.