Good day! In my previous post, I mentioned Pattern was forming. But the pattern was invalidated by breaking the shoulder line.
Now we are forming the "Inverse Pattern" in the chart. The neck line should be broken to confirm the pattern.
As you can see in the chart, the top is used to predict reversals in downtrends. This pattern is identified when the price forms left shoulder, head and right shoulder inverted with a neck line connecting the head and the shoulders . The target is equivalent to the height of the head from the neck line.
With this, we can project the target price 9640 for the bitcoin parabolic move, which will be followed by huge correction.
Hope you find this useful.
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