Bitcoin Technical Analysis - 17.02.18 - The Bigger Picture
The Inverse Head & Shoulders Pattern for BTC/USD is forming nicely from a bigger picture perspective.
The left shoulder formed in the middle of January 2018 - high of $14,200 to a low of $9,100.
The head formed at the lowest price point in early February 2018 at around $5,950.
If my estimations are correct, the right shoulder patter is now developing, and should become more evident over the coming week as to whether or not it materialises.
That's too obvious to happen. I would expect 14-15k first before a sharp decline to trigger most stop losses... and then go test ATH.
You may be right but TA is all about probability, as I'm sure you are well aware. Let's see how this plays out. Thanks for commenting.