The head and shoulders pattern from the last chart didn't pan out as BTC failed to break the out from the upper trendline and fell below the 23.6% fib level. Rising support seems to indicate a compression in the price, with the big recovery or next fall seeming to show face in the next two days....
Comment:
It could be argued that BTC is forming a HnS on the 4HR timeframe, starting around 5/19... I will not argue either way, but if that's the case, this current dip to $36K would be in accordance to the formation of the right shoulder. Technically, the target would be the $47.5-49K range on the confirmation. I guess this matches up with a lot of other TA short-term tops I've been hearing about.