Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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BTC has been ranging on the daily but on the 4H it seems to be forming an H&S pattern which is confirmed by the volume profile. A break below 6430 will confirm the pattern and will onset a downtrend. Further the RSI seems to show bearish divergence on the 4H. If the price action breaks above 6700, this pattern would be invalidated. Therefore, a little patience is needed before the trend is confirmed.