BTCUSD Head & Shoulders Short
Technical: BTCUSD has been severely overbought on larger timeframes for some time now, and yesterday's introduced uncertainty among many newcomers. Not accounting for the short spike that made a new ATH upon the announcement of the cancellation, we have a clear forming, and should see a correction to cover the gap down to 6100 USD
Short entry: Below 6900 after it breaks
First target: 6660
Second Target: 6420
Final Target: 6100
6900 Short opening reached now.
Short trade opened and active. Let's see how low this goes or if my stop gets hit again...
EMA200 is approaching price point soon and we may bounce hard off it.
H&S height calls for 6180 Bottom, which is near where EMA200 is likely to intersect price.
Final Target can be shifted to 6180 if worried.