The formation of the bearish ABCD pattern suggest that we may be seeing bearish price movement to the 0.618 Fibonacci level like we saw during the AB leg. If that level of support does not hold, next could be all the way back to the lower blue box (2600-3000 USD). If price continues higher (above 6200 USD), this pattern is most likely invalid.
This is my very first published idea here. Thanks for reading, please feel free to comment below.
This is my very first published idea here. Thanks for reading, please feel free to comment below.
Comment:
Price surged upward, taking out all-time-highs. This pattern is invalid.