Bitcoin - Head and Shoulders

12 Mar 2018

The fact that this right shoulder was formed lower vs the left, plus the fact that the neckline is down sloping, brings a serious concern to the bulls. This could easily head below 6000.

12 Mar 2018

Not

We should be testing the neckline at 7.8k to 8k in this week. There might be a bounce up. Otherwise, the more likely scenario would be we break this. Then possibly 6.7k, 6k, 5k 4.5k etc... But 8k is a strong support, so lets see when we get there.

12 Mar 2018

Not

Wow this was quicker than expected. I guess the sharp rise called out for a sharp fall.

13 Mar 2018

Not

13 Mar 2018

Not

I was just about to mention that I am not taking the rising wedge trade. Way too risky as it could break down sooner. than its normal 2/3. But the wedge does give a good idea that we will end up going breaking down. Which is exactly what happened.

14 Mar 2018

Not

14 Mar 2018

Not

At the neckline of HS. I think we should see a slight bounce from here before breaking the neck of the pattern.

18 Mar 2018

Not

Still needs to break the neck line ( now 7.4k)