BTC medium term perspective
Price extended to the highs of $9000, however, was not able to sustain this level as price clearly has been trading sideways around the psychological level of $8000. With singular wicks hitting both the highs and lows, however, the head and shoulder pattern could elude to the fact that reversal may be imminent. Bear in mind that from the new monthly highs price has been creating lower highs and lower lows. Price is currently retracing to the highlighted price region of $8200-$8350 at a key fib level, due to the fact that BTC is very volatile and therefore entails very manipulative wicks, wait for shorting the BTC at the highs of the wick to the targeted D extension fib level of the price region $6400.
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