Bitcoin

<h3 id="x1f6a8-bitcoin-technical-analysis-alert-x1f6a8">&#x1f6a8; #Bitcoin Technical Analysis Alert &#x1f6a8;</h3><p>&#x1f4c8; Current Price: $26,800</p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/875bdb8a91324ba8bfe1a9fe9d3d4e2c.png" /><p></p><p>&#x1f50d; As per our previous analysis, Bitcoin dumped from $30k to $26k, and now, it has broken down the $27,000 Neck Line support of the Head &amp; Shoulder Pattern.</p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/c4b54dac4d6442f39aeb09b6f83dac72.JPG" /><p></p><p>&#x1f43b; The pattern suggests a bearish trend towards $24,000, which is the target derived from the Head Height from the Neck Line support in the chart.</p><p>&#x1f4ca; Bitcoin hit $31,000 after breaking the resistance on March 13-14, but it still has not retested as per the chart pattern, so the current retest level is at $24,000.</p><p>&#x1f440; Keep an eye on the market charts. If Bitcoin breaks upward $27,000 and the daily candle closes above $27,500, then the current Head &amp; Shoulder pattern is invalidated, and the targets will be on the upward side.</p><h3 id="x1f4a1-takeaways">&#x1f4a1; Takeaways:</h3><ul><li>The Head &amp; Shoulder Pattern suggests a bearish trend in Bitcoin.</li><li>Expectation is to reach $24,000 in the near future, and a retest at that level is necessary before going for an upward ride.</li></ul><h3 id="x1f449-key-levels">&#x1f449; Key Levels:</h3><p>Support - $24,000/$21,300</p><p>Resistance - $27,050.</p><p>Stay tuned for further updates.</p><p></p><p>Follow us for More Quality Content.</p><p></p><p>$BTC #Bitcoin #LTC #Blockchain #Binance $ETH $XRP </p>

Bitcoin Technical Analysis: Head & Shoulder Pattern Indicates Bearish Trend

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Crypto Patel

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