BITFINEX:BTCUSD   Bitcoin / Dollar
We see the formation of a bearish bat on the right shoulder of the inverse H&S pattern.

The same bearish bat formation is observed on the left shoulder.

If the yellow line (neckline of the reverse H&S ) holds, we may see a big drop in price.
Looks like this is playing out however some ppl saw 9k as the inflection point for the next elliot wave down to sub 4k.. thoughts? I spent time reading and learning about harmonic bat patterns because of this so thank you.
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VWuelfrath Gutshot
@Gutshot, If the neckline breaks, there is still the 4h 100MA coming at 9000$ and the longterm downtrend (dash red line) at about 9250$.

The risk/reward ratio is not great right now, even if the neckline breaks.

There are a lot of bullish signals, so I'm not sure we will revisit new lows (sub 6k).
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