BTC: Head & Shoulders = Incoming Drop?

27 Kas 2018

I have just spotted what looks like a head and shoulders pattern on the hourly chart for Bitcoin. Correct me if I'm wrong, but if it is, this could signal a sudden drop about to occur.

27 Kas 2018

Not

I have since learned that it's NOT a head and shoulders because it hasn't broken the neckline yet so forget this whole post, unless it breaks it.

27 Kas 2018

Not

IF it does break the neckline, we are looking at an appropriate $400 drop to around the $4,200 level. Why? Because that's the appropriate distance between the neckline and the top of the head.

27 Kas 2018

Not

$4,200? No. $3,200. I blame the volatility and lack of caffeine in my blood.