Fractals and an Inverse H&S from the ATH!

26 Mar 2018

Hello and welcome to all comers! Time for a crucial decision time in Bitcoin! As you can see, we are approaching the trend-line on the logarithmic scale that has already arrested major bearish falls twice, both times with violent rebounds. However, what I see on the chart are three bumps; the first taking us to our all time high before double-topping and falling all the way to the trend-line. The second was a major rebound, forming the second shoulder of what was noticed to be an inverse head and shoulders, before double-topping and falling again, another bump, but dramatically smaller in size. The final bump was pretty tiny, still double-topping, and appears to be racing back toward the trend-line. The question now is whether the repeated tests of the trend-line will break it and we'll fall though, or whether we will make a significant enough bounce off the trend-line to fulfill the inverse head and shoulders of a scale that dwarfs my previous "huge" inverse head and shoulders. As always, wait for confirmation, but, at the moment, I'm just going to keep swing trading via my RSI bot watch the direction the market chooses. May your stop-losses be wise and your holdings moon!