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jawpilot23

30 min / channel forming & possible moves in short term

Bitcoin (BITSTAMP:BTCUSD)  
jawpilot23 Updated   
BITSTAMP:BTCUSD   Bitcoin
Chart Patterns Technical Indicators BTCUSD
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chartpattern indicator btcusd
Simple idea using fibs, resistance line and a parallel channel. Seems we will likely either break down to complete the H&S on larger time scales (to ~8k perhaps) or up through the resistance line to form an ascending triangle, A&E, or some similar pattern. If the latter, circles suggest some points likely to see resistance based on Nov retrace to Dec high fib. RSI also trending upwards. Any thoughts/criticism welcome, new to this space. Thanks.
Comment:
Bounced off the 0.382 fib. Next target 0.5 fib.
Comment:
Folowing the channel. 17k next likely.
Comment:
Broke out of the channel down after several tests of upper limit. Bearish at least short term.
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