BITCOIN: Small Head and Shoulder Pattern on going...

toofasteddie (70)in #bitcoin • 6 years ago

...which maybe will lead to create an inverted Head and Shoulder Pattern.

Let me explain you with the following chart:

BITCOIN has been moving very erratically during the past few days.
I've drawn the Upper resistance in red-dashed line around 6630USD. BITCOIN has touched it three times, one of them with not a bad volume, breaking it quickly and moving back again to the same line. So this Resistance line has become stronger and now we see that BITCOIN is on its way to the 6450USD Line support.
As a result of that we may say that a "small Head and Shoulder" pattern is on going. Something like this:

And now, let me tell you that perhaps this is not a bad new at all...

In order to grow, BITCOIN has to retrace a little more... and, if so, maybe we could see the following reversal pattern in 4h-chart:

which confirmation may bring BITCOIN to 7600 USD

What do you think?

I think that the reversal action is really very close...
I would like to see this small HS pattern complete in order to go down a little and start building that reversal one.

Good times ahead!!!

@toofasteddie

*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently.
Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

#cryptocurrency #timm

6 years ago in #bitcoin by toofasteddie (70)

$5.43

Sort:

Trending

[-]

pandorasbox (59) 6 years ago

I'm still bearish on Bitcoin for the time being. Chart doesn't feel like a sure win to me, and the market sentiment is only so-so too.

I'm still waiting for sub-$5000

$0.03

3 votes

[-]

toofasteddie (70) 6 years ago

the reversal is coming!!!!

$0.00

[-]

pandorasbox (59) 6 years ago

I hope so, but I'm not convinced :-/
I am haunted in my dreams by the trauma of the 2014 crash. Call it crypto-PTSD... I hope you're right though

$0.00

[-]

moncia90 (66) 6 years ago

I can only say thank you to your great suggestions.
I am a crypto noob and I like reading you post about Bitcoin!!

$0.02

1 vote

[-]

toofasteddie (70) 6 years ago

Grazie caro!
Crypto is a permanent learning world... On these posts I only try to explain my impressions and thoughts about future moves...do your own assessment, always!

$0.00

[-]