Currently BitCoin has started to show up Signs that it might crash back to 1150 very soon. Their are couple of patterns in charts that i look for which are probably best for reversal indication and they are forming up in higher time frame charts of bitcoin. but there is more..
1- BitCoin Has recently broken above a long term curve at 1500, but there is very less possibility that it will sustain as volumes are not favoring it and lower curve is at around $1150.
2- There was a double top around 1150 and lower curve is also coinciding with it and it could act as a structure.
3- There is a tool (VR) that i use to spot undervalued stocks, so it usually bottoms out with the stock and for every 0.01 point move on the upside (only upside, downside moves does not matter) it makes the stock move 40-50% with it. so when bitcoin bottomed out in 2015 the tool was round 1.02 and bitcoin was around $200.
4- currently the tool is around 1.07 which is a 0.05 point move on the upside which should have taken bitcoin around 250% higher, so the fair value should have been $700-800, of course according to that tool but currently it is around $1800 so i doubt that bitcoin will sustain these levels.
5- I think that bitcoin can crash towards $1150, which was the previous double top very soon and then we will have to analyse the situation again.
6- But if bitcoin tries to break the recent highs and tries to move above $1920-1950 then the scenario will be different and it could rally another $200-250 before crashing towards 1150, but crash is a very likely possibility.