Bitcoin Chalks Out ‘Head and Shoulders’ Pattern Ahead of U.S. Nonfarm Payrolls: Valkyrie Investments

“Violent timeframe trend metrics remain firmly bullish, a near-term [bearish] reversal chart pattern has emerged. Although not classically converging the textbook criteria of a head and shoulders, price action since March 19 has painted an extreme high with skirting lower highs,” Valkyrie’s analysts, led by Chief Investment Officer Steven McClurg, wrote in a note to clients at this week.