Bitcoin you betrayer!

Sorry guys. I have been posting only on Korean server lately since I was busy. I am in graduate school right now trying to get my Master degree and I am graduating next month. So I am writing my thesis journal paper. Hope you guys understand.

I thought that sub-wave B would reach at 0.5~0.618 retracement level of the down-going wave, but instead, it only reached 0.382 level which is around $9,400. Now we are on wave C. It bounced at the lower boundary of the parallel down trend channel it has been forming. Some bullish divergence signals are being shown which means it will most likely rest a little before going down more and complete the wave C.

Honestly, I am not a huge fan of head & shoulder and cup & handle pattern, but as many traders have been mentioning, the head & shoulder pattern has been completed. Almost like a text book example. It did try to resist going down the neckline at first, but at last it gave up. Usually, when Head & shoulder pattern completes, it likes to retest the neckline. Therefore, I am kind of expecting it to go up to touch the neckline again. My targets stand around $8,600 and $8,300.

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