Looks like a big head & shoulders pattern ls very likely to be formed (the shape of a corrective Elliott wave would suggest it too). If it will happen, we have big chances to hit $6200 or lower, since I didn't identify any important support until $6000.
註釋
Ok, as I was writing we went down do $6790 before going up again, so the forming "neck" went lower and the target would be now $6100 or lower.註釋
It looks like it was a very small, broken right shoulder. That means we should go down very fast. Meanwhile, whales continue to liquidate long positions (@whalecalls on twitter).註釋
Ok, so bulls are not quite dead yet. The right shoulder might last for a while. I still think the H&S pattern will validate.
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