❗ Technical alert: Bitcoin 💥

2:03 PM 2 September 2020

Bitcoin price slumped today. Price of the major cryptocurrency has pulled back from the key resistance zone at the psychological $12,000 barrier recently and the downward move has accelerated today. However, looking at the H4 interval, the decline stopped at the key support which is marked with previous price reactions. Additionally, neckline of a wide head and shoulders pattern can be found in the vicinity of $11,150. In case of break below, the downward move may deepen.

Bitcoin H4 interval. Source: xStation5

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