Fact 1:  Bitcoin seemed to have found support at $39650 and since then the bulls stepped in and brought bitcoin back to $43663 at the time of writing

Fact 2 : Although bitcoin rebound to $43663 ever since it touched 39650, there is no confirmation yet

Fact 3:  As seen on the two-week chart, bitcoin is forming a head & shoulder pattern (bearish) 

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Personal view :  There is tremendous selling pressure in the 50k region.  It would not be easy for bitcoin to overcome 50k at the moment.  The fact we have not yet seen the confirmation, bitcoin is  likely to come back down to retest 39k disregard how far it goes on the upside.  A potential head & shoulder pattern is being formed on a two-week chart which indicates a bearish move could come at anytime. 

Important price to watch:  $39650 & $39600 -  breaking those two targets could cost bitcoin another 3k - 6k dip.

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