Bitcoin / TetherUSShort
SHORT BTC
Pattern Observed: Head and Shoulders
Left Shoulder: Formed with lower highs.
Head: The peak point of the pattern.
Right Shoulder: Slightly lower high, confirming the pattern.
Neckline: A horizontal support line at approximately 96,000 USD.
RSI Divergence
RSI shows a downward trend while price action forms higher highs during the head. This bearish divergence indicates potential weakness and supports the Head and Shoulders reversal.
Left Shoulder: Formed with lower highs.
Head: The peak point of the pattern.
Right Shoulder: Slightly lower high, confirming the pattern.
Neckline: A horizontal support line at approximately 96,000 USD.
RSI Divergence
RSI shows a downward trend while price action forms higher highs during the head. This bearish divergence indicates potential weakness and supports the Head and Shoulders reversal.
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