BCH/USD Inverted H&S

٢٦ يوليو ٢٠١٨Hi everybody,
With the same behavior like EOS, the BCH is also forming an inverted Head and Shoulders pattern and if it triggers and completes, it will be a quick bull run of about 30% rise. We wxpwcted more pull back but since the bitcoin pullback wasn't successful and the price continued to move up, the BCH inverted Head and Shoulder pattern will be triggered earlier than we thought. Also in 15m time frame (in figure below) a symmetrical triangle is forming and if the price break out of it will trigger the inverted H&S pattern as well so we can be in trend earlier with tighter stop loss and big risk to reward ratio.

Thanks

٢٧ يوليو ٢٠١٨

تعليق

Hi
Looks like finally BTC price is pulling back to form a higher low so the trend become safer and stronger to continue. Check the BTC/USD chart below:

As you can see on chart, the BTC price started another inverted H&S and now is pulling back to the neck line. Therefore, the BCH price is dropping and as in main idea we draw some lines we expect the price to fluctuate and consolidate in form of symmetrical triangle (a repeated pattern in crypto charts) and then break out to the upside that (with high probability) will trigger the inverted H&S pattern and we can be in trade earlier with lower risk and higher reward. As soon as we get close to the break out and the pattern is formed based on my expectations I will release a new idea with details in 4h time frame.
Thanks

٣٠ يوليو ٢٠١٨

تعليق

The situation is getting complicated and looks like the inverted H&S will not be triggered. It completely depends on BTC price behavior which recently has been showing bear signals and I hope good news come out of ETF decision otherwise with high probability bitcoin will drop sub 5k. However as long as the price is above the head this pattern may be triggered.