On hourly chart, BTC seems to have formed a perfect head and shoulder. However, wave analysis for the short term is doing a 12345 Elliot Wave. The end of (1) has been recorded at $9,075. (4) correction cannot go below (1) so I don't believe the drop following the head and shoulder pattern will go beyond $9,100.
Additionally, there is a strong support at around $9,500 which could help in stopping the drop at that level, before continuing to point (5) in the Elliot wave. Which supposed to be above $14,000
Additionally, there is a strong support at around $9,500 which could help in stopping the drop at that level, before continuing to point (5) in the Elliot wave. Which supposed to be above $14,000