On a 1-hour chaer, BTC is in the process of making a Head and Shoulders Pattern which is going to complete soon. The 25-EMA is acting as a resistance line. Considering this scenario, BTC can go up to $9,000 mark before heading lower. When the right shoulder is formed, a break below the neckline with high volume will complete the pattern. If the pattern is completed with a breakout below the neckline, the price target of BTC will be around $7,500.
For education purpose only, not an investment advice.
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Do not get fooled by the recent jump to $9,300. Manipulation is at it's best.