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BTC Downtrend Channel
BTCUSD
, 240
Short
BTCUSD: BTC Downtrend Channel

Expecting test of 9100 and then possibly break down to 8500.

Bull scenario failed, H&S formed, Going down.
BTCUSD
, 240
Short
BTCUSD: Bull scenario failed, H&S formed, Going down.

After failing to break the 620 resistance for several days, market wants to try the bear scenario. retraction to 520 or 480 fibs are possible.

Bull scenario failed, H&S formed. Going down.
BTCUSD
, 240
Short
BTCUSD: Bull scenario failed, H&S formed. Going down.

After failing to break the 620 resistance for several days, market wants to try the bear scenario. a retraction to 0.236(480) fib is possible.

Will we form a reverse H&S?
BTCUSD
, 240
Long
BTCUSD: Will we form a reverse H&S?

If long term bull trend holds, I expect a reverse H&S to form on Bitstamp and then go up towards 700+

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