Bitcoin - Head and Shoulders Pattern - Drop to 6k?

BITSTAMP:BTCUSD   Bitcoin / Dolar
Hey traders, I hope you be fine! I want to share with you what I found in Bitcoin´s chart today. As you can see, there`s a huge head and shoulders ( H&S ) pattern in formation, which is quite worrying since it indicates a possible drop of bitcoin´s price to 6k dollars, and therefore, a big drop of crypto´s total market capitalization. This is quite concerning since all your investments can be deeply affected by this drop.

If you are not familiar with technical analysis theory, I will explain you what this pattern exactly means. According to technical analysis theory, this pattern corresponds to a Trend change pattern, and it forecast (depending on the H&S direction) an upward or downward movement equal to the height of the pattern´s head. If this pattern consolidates, and price breaks the neck of the pattern (12.500), we can expect a big drop in bitcoin´s price in next few days, which points to $6k target.

Additionaly, if we study volume devolpment throughout time, we can notice that in every peak of the pattern, volume has been decreasing, which supports the idea of a H&S pattern formation.

Finally, I want you to know the reason of this post is to warn you about what can happen with bitcoin price and how it can affect all cryptomarkets total capitalization. H&S shoulders pattern is not confirmed yet, however if price breaks the pattern´s neck you should be worried.

If you find this analysis helpful, don't forget to follow, like and comment. I use to upload new analysis every day :)
Komen: Bitcoin is not showing strength signals to break its current downtrend line. Waiting for more info.
Komen: Bitcoin testing resistance line again
Komen: Bitcoin´s break resistance line! Waiting for more info
Komen: Bitcoin testing MA 200 and LongTerm tendency line (in log scale) This is a key moment!
Komen: Bitcoin new tendency line. I will continually update this post.
Komen: Bitcoin testing tendency line :)
Komen: Hey traders! Thanks for your great feedback. If you are interested in Ripple´s market, here´s my new idea if you want to check it :)
Komen: Tendency line broken. BTC is not showing strengh signals
Komen: Big price drop. Is H&S actually consolidating?
Komen: Bitcoin´s new downtrend. If channel is broken, H&S will be almost consolidate! WatchOut!
Komen: Price broke the pattern´s neck!!
Komen: Pattern´s neck is acting like a support level, We have to keep waiting for stronger signals capable of confirm this pattern.
Komen: Price testing downtrend
Komen: Hey guys! If you are interested in Stellar´s market, here´s my new analysis if you want to visit it. Thanks for all your support :)
Komen: Hey guys! If you are interested in Monero´s market, here´s my new analysis if you want to visit it. Thanks for all your support :)
Komen: Price testing downtrend. Maybe it will become in a new uptrend a in couple of hours :)
Komen: Bitcoin new uptrend :)
Komen: Hey traders! I invite you to follow my new Bitcoin´s analysis. Triangles has already been broken!
Hey Young man .. Juan !!
Keep it up .... soon u will become a celebrity ! :)
+1 Balas
Juanchobanano cryptoSingh
Thank you @cryptoSingh!
Target from Dec. 27th reached... BTC 10K..


+1 Balas
Juanchobanano lemosedmirf
Thanks for sharing @lemosedmirf! Yep, finally it happened
Does this mean its going down towards 8k from here or upward trend?
+1 Balas
Hey @Judex81! :) We should wait for further market info. Price has an important resistance line at 10k.
Went up...lol
Hello Juan.What is your current thoughts on this graph
thank you
Pls update idea
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