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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