There's a H&S pattern in formation. It should be completed when the right shoulder breaks the neckline. If this happen, we expect the price to fall to $6000. It then might pull back up as it is also the right shoulder's 261,8% Fibonacci level. The it might be a good opportunity to long BTC again for the longer-term.
The volume during the H&S formation has been acting accordingly. Larger than usual volumes on the formation of the left shouder, a decrease in volume as the price rises to form the head, incresing volume as the price draws back to the neckline and then the last increase in volume when the right shoulder is being created.
Also, the Death Cross of the MA (50,200) might happen soon, too. This would also indicate a decrease in price.
The volume during the H&S formation has been acting accordingly. Larger than usual volumes on the formation of the left shouder, a decrease in volume as the price rises to form the head, incresing volume as the price draws back to the neckline and then the last increase in volume when the right shoulder is being created.
Also, the Death Cross of the MA (50,200) might happen soon, too. This would also indicate a decrease in price.