Bitcoin hit a new all-time high $8,285 today. However, it is choppy and has formed a very bearishing intra-day pattern known as a head and shoulders. This dictates that when the neck-line breaks (as seen in the chart below), a fall will follow down to $8,075. This is a classic chart setup that works on anything from stocks to commodities and currencies. If the neck line breaks, the target should be reached within hours.

Gareth Soloway
InTheMoneyStocks