The candle after long uptrend might foreshadow trend reversal.
Moreover this candle is after a long white candle. This means there is imbalance on the market. The market is "tired".
The bulls might not have enough strenght to keep uptrend.
The maximum of the upper shadow is the ($1166). If its broken the uptrend will be continued. It will also show potency of the bulls.
The levels are almost at 80, so the market is nearly overbought. The more overbought the market is, the higher probability of the candle to reverse uptrend.
To make matter worse for the bulls, there is formation.
In my opinion the price will go back to lower shadow of the candle ($735), however if there are more bad news for BITFINEX:BTCUSD we can fall down to $450 level.
I expect now a long white candle (in march/april on them onthly chart), before the price of BTC will get correction.
My target is $1500.