Hi, guys I believe btc is going downtrend. it has formed the left shoulder, the head is still in formation. the drop to the neckline might be substantial, from top of the to bottom of the head. Incase right shoulder forms, this could even bring it down to possible target 44k. The sentiment is low, especially evergrande, this morning passed the deadline.
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Comment: 12/9 update. Guys, the head & shoulder pattern came out as expected. Now I am updating my chart for accuracy. When the above chart was drawn, the head and shoulder was only half formed, so I approximately placed the neck line and price target. Now, the head and shoulder has completely formed and the neckline can be precisely placed. after adjusting the neckline, the price action has broken the neck line, very bearish sign. Now, the new price target is 45.3k now after updating the chart.
