Tomorrow bitcoin needs to make a decision. Falling wedge target around 9.3-9.5k. Big resistance at ~9k due to EMAs from multiple timeframes.
Going down I'm expecting a double bottom, but we could reach the golden pocket of the bullrun from 6.5k, at 7650-7780
We may have a inverted h&s forming. If you take a parallel line from the neckline, the bottom of the right shoulder should be around 8180. This would be exactly the same as 50% fib retracement.
Another possibility is that we retrace to 61,8% golden pocket and that forms the right shoulder.
If this pattern forms, the target price after breaking the neckline would...
We can see a bull flag (black lines) is getting pretty tight in conjugation with a longer term rising trendline (blue line). Let's hope we see enough volume to break through the flag and then form the other shoulder for inverted h&s. After that we need to break through the thin purple downtrend line.
If we break under the blue line there's still the possibility to...