Bitcoin has consolidated on the daily chart and the bulls have dug in establishing higher highs and higher lows on the lower time frames. We now have a potential bearish head and shoulders pattern forming on the four hour chart. A bear break of this pattern will provide more clues to the daily chart. If we get a bear break and don't hold support we will see more daily consolidation. A strong bounce back to the highs would form a potential bull flag on the daily chart to test resistance.
Potential 4 hour head and shoulders:
Strong bounce back to the highs and we will have a bull flag on the daily chart.
