Hi! Today we see the end of the formation, a head and shoulder, i expect that the price will stop at 8300-8500 (8300, on the trendline), to come back 6500. And after, you know the story
The left "shoulder" wicks up higher than the head, so I would consider that invalid as a shoulder pattern. Also, the market has become quite bullish so I would be very surprised to see us head back down to $6,500. You never know, but I see a reversal of the down trend already in progress.
HugoRomano
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@Box1515, It's just an idea, the formation could working. I agree with the reversal of the down trend. But you know that the bitcoin moves on a parabolic formation. Ans if we check the past of the price, we can see that the parabolic formation touch 80% down of the ATH. And we just reach 70%.. So, i don't know, I wait to see and make different possibilities.. But you're right, maybe we just end the correction. Hope to see soon what's happen
Box1515
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@HugoRomano, hey np, mine is just an idea as well. :) Indeed, a full correction of the parabolic move would put us down near 4K. I would actually love to see that as I would be all-in on alts, but I think that ship has sailed.