Head and Shoulders Play
Bitcoin’s drop might be the beginning of a downtrend.
BTC/USD Analysis
Bitcoin might have topped out at $73,000 after pulling lower and creating the second shoulder.
If we don’t see a break in $69,000, we might be looking at a price reversal in which the crypto has a long way to drop before support.
The dollar found strength even after a dovish Fed statement. This could be due to other central banks around the world gearing more dovish than the Fed, which will likely hold rates higher for longer.
As a result, the dollar has become dominant in a way. And anything trading against the dollar right now could get hurt.
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