Bitcoin Analysis 4 hours
The 4-hour chart forms a head and shoulders pattern, which will be completed with a breakout and close below the neckline. If the price stays below the neckline, the pair could drop to USD 85,000 and then to the pattern target of USD 76,647.
This negative outlook is likely to be invalidated in the short term if buyers push and maintain the price above USD 100,000. This could open the doors to a new test of the all-time high of USD 108,353. If this level is crossed, the pair could jump to USD 124,206.
