Bitcoin is drifting lower this evening having failed to make any progress above 10,800 today. The price is now falling towards the low point seen late yesterday when the price touched 10,625. In the process of drifting lower this evening, the price action is creating what is known as a head and shoulders formation. In this particular case it is a very short term one. The neckline is at approximately 10,600 and the top of the head is at 10,950. That implies a downside target of 10,250 should the neckline at 10,600 be broken. This is not a guaranteed outcome, but one that is technically correct. All the while the price remains below 10,800 there is a possibility that the price could drop as the formation would suggest is possible. Bitcoin is just now trading at 10,650