BITCOIN Starting To Form Typical Traditional Pattern

We've seen this pattern before. For now, it looks like consolidation, but we will see if there's a continuation to the upside. This bull spike move happens all the time, followed by consolidation and sideways trading and then a bull pullback. Just look at the chart above and we can see this pattern happening, which also was the last time we saw the 4-hr hit overbought RSI levels.

Strong support is around the $3,575 level, and then back down to $3,350.

Signs now are looking like potential bear pressure, so if you're still in a position, make sure to have an exit strategy and stop losses set. Nothing is for sure at this point.

Stay safe everyone and I hope everyone is having a great weekend!