Get started

HEAD

BITCOIN Review : H&S Pattern | Selling Opportunity on 4hr ChartBitcoin Review : --------------------- Bearish Momentum on 4hr chart. We have seen Head & Shoulder pattern is forming. Possibly recent rally has created the Right Shoulder. Price needs to close below the neckline (12700) to confirm the Head & Shoulder Pattern. Price & RSI have got resistance on descending trend-line. Invalidation : If price & RSI break the descending trend-line (red color) towards upside, than price will continue to rally. Recently, Price and RSI had broken descending trend-line towards upside and it was the first signal of impending trend reversal. Also there was a bullish Fakey setup. Price got increased nicely as expected. Previously we saw price had fallen down sharply after showing a regular bearish divergence. Peter Lynch says, ''Anybody can be successful in the trading world by magnifying his/her skill and doing some research." So you can improve & magnify your skill by conventional knowledge & experience.
BITSTAMP:BTCUSDShort
by amirulopu
2
Bitcoin BTCUSD Watch out for potential Head and Shoulders hereBitcoin BTCUSD Update If you got long again at the ridiculous hour of 11.30 pm est you're hard working and deserve your 400 points reward. Weirdly the crypto chat room was quite quiet with a guy from London waiting for the BCH burst to top out so he could bail out and fade the consolidation. London's finally catching on. 2018 will be so fascinating and fast moving. It's good for competition, good for spreads and good for us therefore, in time. Now, finally people are taking BTC very seriously. So many Bitcoin jobs to be created now. How long for though? No one can answer that one for us but if anyone will know in advance it will be GS. And the chart. Until that day comes we ride this like nothing has ever been ridden before...in the entire history of speculation. Ever. We are alive for it. Wow Right now Bitcoin is trying to track huigher but is, weirdly, being contrained on the upside by an old parallel from way back in the mists of time (hell, it's 14 days old - that's 2 years in FB time!) - and yet it's clearly back in play once more, stopping the rallies. Another nice day in prospect for day traders but not much for others right now. It's trying to hold a newly forming little parallel off yesterday's lows and needs to keep holding up there or we have a danger of a head and shoulders forming here off the top, with a neckline at 15809 and a minimum downside target at 14210 if it gets broken. Time will tell but right now this is not a very strong pattern, except for day traders. Unless you look to short if head and shoulders gets completed later on, as above.
BITSTAMP:BTCUSD
by sumastardon
2
Bicoin: BTCUSD Reverse head and shoulders now clearerBitcoin Update The reverse head and shoulders pattern is clearer now.. Right on the breaking point now and therefore vulerable to a failure here...but it looks good so far... Because the H and S pattern is clearer it also gives a clearer measurement target on the upside once 7425 is beaten: 77333 is the minimum measurement implication of this break, if and when it occurs so it should be worth following. It would be helpful if it came back to 7350 (if 7350 gives way at any point it could spike down to 7290 -7280 at absolute worst so we have be wary with stops, not to get taken out of a good position on a spike - the worst feeling in world, being right, but still losing money...that is the worst kind of pain, the worst kind of loss. Better to be outright wrong!) Still a battle going on at the neckline now ...if it now breaks higher from here, obviously that shows real strength again...follow it. Otherwise we wait and see if we can get in from lower down at 7350, maybe even 7300 on a spike (put in order in and see if it gets hit...this is what causes those pin bars!!!) - but we'l have to leave the stop below 7250 to begin with if struck to avoid getting hit. Otherwise we trade breakout on upside when it comes. Good luck and be careful with stops!
BITSTAMP:BTCUSDLong
by sumastardon
1