Warning to crypto holders, ominous Head and Shoulders pattern has developed, which remains unconfirmed at this time, however you can expect a retrace to somewhere between $81-74k. This is pure technical analysis based solely on fib retracements. The pattern can be confirmed by a spike in volume which should exceed the decline line from the beginning of the formation. There is a possibility that the pattern will not be confirmed, however judging by the angle on the MACD and location of the RSI I think it will, you've been warned.
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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.