Seems to be forming the right shoulder of a H&S
. I realize that other analysts are providing iH&S, which is also forming, but we are still technically in a bear market given that we have broken back down under the Downtrend line from our ATH
at 20k. Will the price fall? We have the 55 EMA
and 200 EMA
coming up to meet the price near the neckline which will act as support and possibly provide the rally we need to finally break out of the bear market. For now, if you're long for the short term, I'd set stop losses at the neckline with FIAT on the sidelines to buy a breakout above the downtrend line.