Community post
Ominous price pattern for Bitcoin
It looks as though bitcoin is forming a head and shoulders pattern. The pattern will be confirmed if price breaks decisively below the neckline, perhaps somewhere in the 6000 level.
If you have any thoughts or questions about this wave count or elliott wave in general, please post them in the comments.
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Replies (3)
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The volume does not confirm this pattern.
Only price pays. Volume is of secondary importance ;-)