I believe we are currently in the head of an impending large head and shoulders bottom. If you go look at major historical reversals in different markets, you will recognize the V bottom price action in the head. Also, they have a high tendency for symmetry so look for a similar timeframe for the right shoulder to play out. A strong break over our 10.5 high would look more V-bottom to me and I wouldn't expect the right shoulder. Good luck
Note
I believe we move up from this point. Pretty confident we are in a 4th wave correction ascending triangle, and this drop over the last hour looks like 'E' wave of tri. break back under 8.8 will look like invalidation Note
Here's how I think it's gonna play out Note
Still think you could call this a head and shoulders bottom. Never got that deep right shoulder but could argue it's a stunted shoulder. Recent throwback would be the neckline re-test and should get a measured move to around 17k. 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.