BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Possible 3 month head and shoulders forming on BTC .

Price currently in right shoulder, reaching the same highs as the left shoulder (~$7.8k). Expect price to bounce off this level for a few days, before a short pull back to 7.0-7.2k. This pullback would make sense given that daily RSI is currently touching oversold. If this pullback occurs, I'd expect a quick bounce off it given that bears have struggled to break the 7.2k support levels in the past week.

Price should easily break the current 7.7-7.8k levels then, also breaking the neckline of the ih&s. From this point, bulls will have to break through resistance at 8.4k, 9k and 9.4k. I fully expect that these levels will be broken and price to reach the early May highs of 9.8-10k.

Fingers crossed from there that we can have the pyschological euphoria of crossing 10k again for the first time since March
Jul 23
Comment: EDIT:
Forgot to mention that if this ih&s plays out, that we'll be breaking the 6 month long downwards trend line
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