We broke the neckline of a massive heads and shoulders, which confirms (85% accurate) a drop down to the $17k area. This $17k area is a convergence of the 786 Fibonacci retracement level, the heads and shoulders and several long-term trend lines which makes it a strong indicator of the reversal area.
It's hard to see this in my chart since my chart has so much going on, but check out my Elliot Wave Primary count, and my Secondary count.
It's hard to see this in my chart since my chart has so much going on, but check out my Elliot Wave Primary count, and my Secondary count.
Note
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Disclaimer
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.