This retrace could create a huge H&S with a 2400$ target.

After SEC's announcement BTC fell pretty hard and it looks like it found support at the level where the IH&S had the shoulders. On the daily chart we had a TD9 and we fell 26.28% without a correction. Watch the price action at the 0.382 level.

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At the 0.382 we have the peak of the left shoulder, the 0.382 retrace, the 50 Daily MA and the support of the ascending channel from which we fell.

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*and the cloud.

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We wanted to say that the target is 2400$ under the neckline which is at 3715.

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So, just to be clear, the target is 3715 if BTC creates this H&S.