I don't personally trade Bitcoin
, but we were talking about this is our chat forum earlier and wanted to share my thoughts. We've just had a nice bearish Head & Shoulders
completion. which is a classic reversal pattern. Price has broken the neckline and the question that we want to ask ourselves now is "where will it stop falling at?" Starting at the 8K level is where we have our previous structure support
zone starting at. So for anybody looking for longs, IF price comes down into this zone THEN I would start thinking about what you need to happen next in order to involve yourself in a long trade.