BTC threats to spoil the inverted head and shoulders patten
41.6K is the area with most historic volume in the visible range in the presented chart.
If BTC breaks down this level there's a vacuum of volume that will only find a potential support around 38K.
Unfortunately that would invalidate the inverted head and shoulders we were discussing yesterday.
If we bounce back up on the daily and only wig below then we would still have fair chances of completing the H&S pattern.
CPR pivot levels are coinciding with the 41.6K high volume area which in fact should be a strong support.
It still seems like Friday typical volatility is scaring some investors which are taking profits before the weekend.
If BTC breaks down this level there's a vacuum of volume that will only find a potential support around 38K.
Unfortunately that would invalidate the inverted head and shoulders we were discussing yesterday.
If we bounce back up on the daily and only wig below then we would still have fair chances of completing the H&S pattern.
CPR pivot levels are coinciding with the 41.6K high volume area which in fact should be a strong support.
It still seems like Friday typical volatility is scaring some investors which are taking profits before the weekend.
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