serekamina

BTC 4h Forecast: Drop then Consolidate in Flag

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Continuing from the MicroAnalysis I just posted, BTC             is most likely looking for a healthy pullback and consolidation soon.

This is one option for flagging out a pattern before further decision-time up or down: an initial ABC correction down to the 382 fib and the prior price structure support near it before attempting higher. Expect multiple head n shoulders and inverse head n shoulders battles between the bulls and bears if this happens.
your A B correction levels of 7800 and 7950 were spot on!
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