Bitcoin has shifted from a rally into sideways action so far in May. The 1H chart shows that btcusd even formed a head and shoulders pattern, breaking the neckline during the May 6th session. During the May 7th session, we got a pullback, and it not confirm a price top.
Bitcoin (BTCUSD) 1H Chart May 8 bitcoin 1h chart May 8 (click to enlarge)
The head and shoulders attempt therefore was apparently a false top. […]
