Still in consolidation, I spotted a head and shoulder chart pattern yesterday and it broke down since. The target is 3065 on OKcoin or ~500-495 usd. I want to emphasize that all projections and patterns don't' work very well during times when volumes are low. On tradeview chat, there has been big talks about big trade walls. When was the last time you made money...
A head and shoulder target on huobi is shown by the rectangle. High probability target at 3050. My chart from yesterday regarding this topping pattern: Follow me on my bitcoin trading blog or live updates on twitter: ibankbitcoins.com @ibankbitcoins
Bitcoin Market Update: Market was forming a topping pattern on the hourly that I pointed out on tradeview yesterday. Here: Market is now experiencing downward pressure, but still in consolidation. Price action is choppy and volume is low. Look at the hourly chart from this week, this shit is not tradable. Its difficult if not impossible to profit from this...
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We've retested the breakout line of head and shoulders and broke above the upper channel. Market rapidly sold off to lower levels. To argue for the bull's case, we need to hold above 510 or 3150; creating sort of a cup and handle type pattern for the next push up. While the push up is indeed strong, the movement unlike a real move is choppy this time. What I mean...
Bitcoin Market Update: Nothing much has changed since 2 days ago, we are range bound between 520-495. While that is a big range, the volatility from recent bear trend hasn't decreased. Overall volume is still above average, but lower from recent move. Since we are consolidating now, we can assume that traders have accepted this price level; they deem this level...
This is gonna be short. Bitcoin price on last Friday looked like a Head and Shoulder pattern (ibankbitcoins.com). I briefly mentioned that every forum and post on the internet community spotted it; which it didn't pan out. We are in a consolidated pattern and the direction is unclear. Only a breakout above or below the trendlines will tell. However, with the...
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Head and shoulder is in development:However, it is kind of obvious. Trading forums like reddit and tradingview are commenting heavily on it. I think the likely hood of failing is high. Follow me on twitter or my blog ibankbitcoins.com @ibankbitcoins