Head and Shoulders BTCUSD

Head and Shoulders has formed on the 1hr chart n BTCUSD Bitfinex exchange, if we measure the high of the head to the low and then place that length straight down, we will end up with a drop to around $9200. If the bulls can't sop this slide soon we may be looking at an even lower estimate by tomorrow. ( Currently 8:30p, Australian EST or UTC +10)

As always though these things are fluid, so while it is a significant drop, there should be multiple pullbacks to recover if you were still long and feel like all is lost.

Good Luck friends and I hope any information you can gather can help though Strewth Cobber it's not financial advice.

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