Hi, friends hope you are well and welcome to the new update on Bitcoin:
Down channel:
On an hourly time frame, Bitcoin broke down the support of a channel but soon re-enter the same channel and after breaking out the resistance once again entered the channel.
Head & Shoulder:
On a 4-time frame, BTC is forming the bigger right shoulder of a Head & Shoulder pattern.
Testing long-term support:
On a weekly time frame, Bitcoin is moving below $19500 support and we need the weekly closing above this level.
For a detailed analysis, you can watch the video.
