Head & Shoulders on HTF

For starters, let's clarify one thing: Nobody knows with 100% what's coming next.

I see lots of CT ''influencers'' still shouting how bullish they are, and give hopium without any second thoughts. They might be FINALLY right, but I see something else in the charts. A clear head and shoulders pattern that's been playing out for weeks now. The fact that it's so clear on a higher time frame is very alarming imo.

As you understand, should this pattern play out, we are fully going into a bear market. In combination with the FED raising rates, inflation and any potential economic hazard it could get very ugly. I'm not seeting any bottom target, nor top target. One thing I know is that I feel comfortable buying below 25k.

On the other hand, as many indicators are very much completely reset, we could potentially see a huge short squeeze (imo unlikely) or a short-term relief rally. These are possible scenarios as well.

Sum Up: Tricky times to be in crypto, we haven't really been here before, so better watch out for clear signs of a trend. This H&S is super clean, so I do expect it to play out as well. One thing to keep in mind: no chart goes directly to the bottom.