【BTCJPY】Full retrace of the rise from the inverted head and shoulders pattern…

In the post dated August 6, titled "【BTCJPY】Can the bottom be held with a shaggy bottom formation?" I noted that I would pay attention to whether the downtrend could be stopped by the 75SMA. As a result, it easily broke below that level, accelerating the decline. The price that had just rallied after completing a reverse head-and-shoulders formation retraced completely. Furthermore, it even fell below the neckline level. The market environment has become not unlikely to target around the recent low of about 640,000 yen again.