In my opinion, BTC price is retesting at 9500 level again before going down and creating Head & Shoulder pattern. First target will be 83xx. Then price will go back to 9000-9200. Second target might be 73xx but I dont think this is possible because the support zone 8300-8500 is very strong.
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Right shoulder is forming. When price reaches 8880, the pattern will complete.
It wont breach 9500 resistance in the next 8 hrs. I agree with you it will go back down between 8400 and 8700! Right now some whales jumped in and it spiked up.. So the price is not organic and artificially rasied. Those caught on this top will loose !