BTC wave 4 correction/ Head and shoulder Pattern
2 indicator point the same direction and that direction is "downward".
Btc correcting to elliot wave 4 shows it could drop to 7400-7500 before going up to Wave 5
a failed impulse wave 4 could result to a bearish scenario.
Meanwhile a head and shoulder pattern formation in a 4 hr timeframe as well that suggest a drop to 7400-7500.