DrDovetail

Bitcoin is flirting with the neckline!

Long
BITFINEX:BTCUSD   Bitcoin
Bitcoins bulls have been unstoppabull recently and witht he current price around 11430 it only has to reach 11600 to be firmly above the neckline. If it can close above on the 4hr and then close another followup 4 hour candle above that, odds are very good at that point that we have a valid inverted head and shoulders on our hands....those who have been following me for awhile now will realize that I was the first to call a second much more massive inverted head and shoulders that used the same head as the first one we saw weeks ago. I was calling this to happen before the second potential shoulder had even began to form. At the time I was calling it hypothetical because I wasn't certain a head of a head and shoudle rpattern could be triggered twice. Now that we are this close I'm pretty confident we will see it break/close above the neckline and form a valid pattern. Of course until it does that it won't be valid, but I'm more confident now than ever before that it will. Today's big resistance is at 11500...if the bulls can topple that as easily as they did the resistance lines of 11120, 11300, and 11400 yesterday then I see us very potential breaking above the neckline as early as the upcoming 1 day candle. it may decide to trade sideways for a day or 2 and possibly even retrace a slight bit before this happens though. So hodl with all your might and I reccomend buying in more at any convenient dips.
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