Price broke the neckline of the head-and-shoulders pattern. The target is typically calculated as the hight of the head projected to the downside. Look how perfectly the head-and-shoulders pattern worked recently.
as we broke the right shoulder the pattern becomes invalidated. An invelidated bear pattern is a strong confirmation of uside momentum. Look long on this asset.
@DukeDinhd6, It would probably be best to just worry about yourself, and not wish losses on others. It's pretty sad how common it is for grown men like you to be acting like teenagers by making such comments. Have a nice day.
@toabyt, It seems to me that you didn't understand the idea at all. It was a bearish H&S that didn't work because price broke the right shoulder to the upside. broken bearish H&S = strong bull signal. that's why the short positions were liquidated and long positions were opened. target level was predicted as 9K. did you read the description?
H&S was always popular among trader but the were no bitcoin H&S opportunities before that's why the crowd payed any attention to them recently.