Bitcoin gained a bad rep of being easily manipulated by the community ; the coin lost over 39.9% of its price within the last 2 months.
Popular trader and analyst Rekt Capital in his recent video discussed the potential head and shoulder pattern formation on Bitcoin’s charts and the implications of the same.
But Rekt Capital made it clear that the formation cannot be considered as a head and shoulder due to the fundamental difference between the structures.
Since the right and shoulder don’t match either, Rekt Capital said that calling it such a structure would be inaccurate.
At the time of writing, Bitcoin managed to break through the $39,000 barrier and continued to move upward.
He has a keen interest in DeFi, the ever-expanding possibilities of blockchain technology, as well as the political impact they would have.
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