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RE: Bitcoin (BTC) technical analysis - Can you see a head & shoulders forming?
I find that near head-shoulders patterns form all the time and you shouldn't get excited until they are more imminent. Also it seems the neckline gets rejected more often than confirmed.
yeah true, patterns mean nothing till they actually break. But in this case it was quite obvious based in a number of indicators that the price wouldn't make a higher high, therefor the h&s will likely show.