Bitcoin - Head and Shoulders

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The fact that this right shoulder was formed lower vs the left, plus the fact that the neckline is down sloping, brings a serious concern to the bulls. This could easily head below 6000.

١٢ مارس ٢٠١٨

ملاحظة

We should be testing the neckline at 7.8k to 8k in this week. There might be a bounce up. Otherwise, the more likely scenario would be we break this. Then possibly 6.7k, 6k, 5k 4.5k etc... But 8k is a strong support, so lets see when we get there.

١٢ مارس ٢٠١٨

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Wow this was quicker than expected. I guess the sharp rise called out for a sharp fall.

١٣ مارس ٢٠١٨

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١٣ مارس ٢٠١٨

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I was just about to mention that I am not taking the rising wedge trade. Way too risky as it could break down sooner. than its normal 2/3. But the wedge does give a good idea that we will end up going breaking down. Which is exactly what happened.

١٤ مارس ٢٠١٨

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١٤ مارس ٢٠١٨

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At the neckline of HS. I think we should see a slight bounce from here before breaking the neck of the pattern.

١٨ مارس ٢٠١٨

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Still needs to break the neck line ( now 7.4k)