trentrehnquist

UPDATE: BTCUSD Completing Inverted Head and Shoulders

Long
BITSTAMP:BTCUSD   Bitcoin
Please see yellow shaded areas. BTC is following the same pattern as left shoulder in completing the right shoulder just in reverse. BTC is holding true to form as each of the final candlesticks in completing the right shoulder have been the exact opposite of the left shoulder and should as they should be mirror images. One or two more candlesticks to go......IT'S GO TIME! Notice last leg on the outside of the left shoulder there is a dip....the dip we are seeing now on the right shoulder before a bullish candlestick to complete the outside shoulder!!! Should be blue skies from here as BTC should move north in the next 7 hours to complete the outside of the right shoulder and head to cross the neckline!!! Watch that bitcoin verifies the inverted H&S by crossing the neckline at about 59,600-59,800 If the altcoins (XTZ, XLM etc.) and Bitcoin Cash are any indication, shorts are in trouble and have run out of bitcoin to sell. The lack of supply of bitcoin due to demand being placed by institutions and wall street investors could have an influence in this bull run! Critical decision over the next 7 hours. Watch closely as it could move either way and quickly!!!!! I look for a drop to 57,800-58,100, and last time to stack up and then it is has to make a decision. With the support at 57,000 to 58,000 all week, again I would be concerned if I were short on this!
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