Head and Shoulders forming on the 1H after bitcoin got stopped at the 10450 level which is the 0.786 fibo taken from 10604 high to 9880 low( range we were downdtrending for the past few days as seen on the chart )
That will bring us back on the upper side of the descending wedge formation we broke out to the upside yesterday - green curved line
Two possible scenarios there, normally those patterns after retesting they bounce up confirming the bull run in which case we will head probably towards the 10800 - green arrow
OR if we dont bounce and fall back in the wedge we are set for a false break out scenario which is bearish and will send the price bellow 10000 - red arrow
That will bring us back on the upper side of the descending wedge formation we broke out to the upside yesterday - green curved line
Two possible scenarios there, normally those patterns after retesting they bounce up confirming the bull run in which case we will head probably towards the 10800 - green arrow
OR if we dont bounce and fall back in the wedge we are set for a false break out scenario which is bearish and will send the price bellow 10000 - red arrow