A bearish reversal pattern hinting at near-term weakness has emerged on $BTC's daily chart ahead of the key U.S. nonfarm payrolls data. Reports godbole17.
Analysts at alternative asset management firm Valkyrie Investments are closely monitoring what looks like a"head and shoulders " bearish reversal pattern on bitcoin's daily chart.
"High timeframe trend metrics remain firmly bullish, a near-term [bearish] reversal chart pattern has emerged. Although not classically meeting the textbook criteria of a head and shoulders, price action since March 19 has painted an extreme high with flanking lower highs," Valkyrie's analysts, led by chief investment officer Steven McClurg, wrote in a note to clients early this week.
A head and shoulders pattern has emerged on bitcoin's daily chart, signaling near-term pain for the leading cryptocurrency.
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