BTC forming a M pattern in 4 hourly timeframe

BTC is rejected from its $59.5k resistance and rejected from it forming a bearish M pattern which will bring BTC price back to around $57k if it fail to hold .618 fib level($58k).
The more the retest of support the higher chances it will break its support.

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To invalidate the potential M pattern, BTC simply need to form a higher high at $59.51k.

Trade stängt: målet nått

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Congratulations to those trader who short Bitcoin on my signal, you are in a profitable trade!