Inverted H&S almost complete with retracement target at roughly 12.2k USD. Target calculated by comparing distance from head to neckline and distance of right shoulder neckline upwards, additionally it fits in line with starting point of the H&S dip.
At that point a good selling point for people that bought the dip at 6k for a 100% profit. A correction can be expected with target between the .382 and .618 fib area and a new uptrend following soon after.
At that point a good selling point for people that bought the dip at 6k for a 100% profit. A correction can be expected with target between the .382 and .618 fib area and a new uptrend following soon after.
If it continues the slow drop I don't believe it will go lower than 9k before bouncing back up. In case of sharper drop we could see bigger correction with potential target of 7.5k
It should all get resolved by end of Feb.