Anyway, that's what I perceive the charts are telling us now. What we have here is an Inverted Head and Shoulder's pattern. If this pattern is confirmed, we will see a "bullish" reversal of this trend. Which I'm sure you've been enjoying. We see that the pattern is validated by and . We are currently nearing the Apex of the Right Shoulder. We should soon expect to see a test occur at the neckline.
I anticipate heavy resistance at the neckline, which is also a Fibonacci level. IF this line of resistance can be pushed through we will see the price of BTC increase to $11,000 and possibly follow the chart as I've drawn it.
If BTC FAILS to break through this key I would very much anticipate the price of BTC to decrease further. Falling below the prior "lows" and possibly continuing the downtrend towards $1,200... Which is honestly probably about where we should be valuing BTC anyway.
What we should NOT be doing is thinking that just because the value of BTC crashes it means that our "alts" (superior coins) should also decrease in value. Ideally they should be valuated completely independently of each other and all other coins. But that's not the world we live in... yet. The arrival of that day is the day that BTC will have exhausted its final use-case and we can finally bury it with honors. A great proof of concept. A profound example of everything which can go wrong with DLT . And, hopefully, we can all learn from its failure and understand how to avoid those traps.
Personal biases aside, BTC looks like it's on the road to a rebound...
If the pattern completes itself we will see some green candles for a few days. I'd suggest picking your coins and holding on. If you have USDT or fiat in your exchange accounts, observe carefully and wait for breakout and set your buy orders.
This could be the moment.