Look like BTCs heading to towards 9500 as we see 'Three White Soldiers' on the 6 hour candle .
what is 3 white soldiers ?
Three white soldiers is a bullish candlestick pattern that is used to predict the reversal of the current downtrend. This pattern consists of three consecutive long-bodied candlesticks that have closed higher than the previous day, with each session's open occurring within the body of the previous candle.
I was wondering what was going to happen as the 4 hour candle hits an 8 in the next 27 minutes. This usually means (not in all cases) a possible 1 to 4 candle pullback. This pullback does not always occur and is sometimes skipped.
However as my good friend @umairceo points out BTC is also forming a cup and handle on the 1 hour. Hence if we see a pullback from the 4hour candle this is most likely the handle of the cup forming . The handle formation drops are often extreme but we can relax as they back retrace upwards rapidly indicating more green tea and cookies are most likely on the way.
Closing this out as BTC does not appear bullish currently , will reopen if situation changes. if the downtrend continues BTC can drop to 83xx , 7900 or retrace back to 6k