Up nearly $200 from that right shoulder... nice swing trade. Just made 2 weeks pay overnight, should have been a lot more though as I chickened out and only invested about $12K. With that said a reverse head shoulders is a reversal pattern.. there's no reason it can't rebound back up above $2700 here. Beautiful looking reverse head shoulders pattern here. Of course it will only keep going up until it doesn't. Chart reading is far from an exact science. Looking forward to more swing trades in the future.
You never know how much you can make of it. I used to look at it like that. "Sold for $100 more, I just made $1000 over the weekend, got all happy and took a couple days off to celebrate and have fun. While I was at it the price went up another $100, so that could have been $2000 had I decided to hold instead of being satisfied with half of it.
The reason the price goes down is normal market correction.. the liquidity provided by those bots which are programmed with a degree of technical analysis in mind was apparent as I was sitting watching them last night. It's almost like a law of nature that nothing goes straight up, and everything goes in cycles, and everything ultimately corrects at some point.
The biggest problem is to know that exact point.