BITCOIN - Incredible Chart pattern forming
Hey Guys,
that was a exciting night wasn´t it? This is a further analysis to my last one. Check it out to have the full understanding.
In my opinion this is an amazing chart pattern what u can see here. My old analysis with the H&S was close to get retarded, but this night we had the expecting pump above the 6800 level.
This night we had some maintenances at the exchanges so they generated big spykes to different price levels. The chart on bitmex (provided by tradingview) shows the highest price at 7148. Directly on tradingview, watching the perpetual contract, we had a high at 6683. Kraken just went up to 6916.
In this chart analysis u can see a H&S continuation pattern in turquoise. And directly next to it, u can see a inverse H&S in blue, as a reversal signal. The amazing thing is, the same time we go up to set up the high for the right shoulder, we are finishing to form the left shoulder of our inverse H&S. The next incredible thing is, to finish the right shoulder of our H&S Bearish Continuation Pattern, we need to go to around 5700. And then the breakdown starts with cracking the neckline. That will build our inverse head. A regular fall down should be the same range, like the height of the head from the H&S continuation pattern. That would set a level at around 3600. That´s by the way the level where the big bull run from 21th September 2017 began.
I just drew the head till 4000. That would already be a very big price decreasing. Then we will go back up to the neckline and form the right shoulder. After breaking the neckline of our inverse H&S, everything is set up for the expected bull run, which could bring us to the 10k level.
Also there are some ETF news these days. It´s important to recognize the difference between these ETF applications. Tomorrow will be a decision, but that´s just a Future ETF and not the real one. The "real" one got postponed. I think the rejections/approvals will help the market to move in the right direction at the right moment, to form these perfect chart pattern.
Please don´t hesitate to write a comment if u agree or not. If u enjoy it, like it ;)
Good Time!
that was a exciting night wasn´t it? This is a further analysis to my last one. Check it out to have the full understanding.
In my opinion this is an amazing chart pattern what u can see here. My old analysis with the H&S was close to get retarded, but this night we had the expecting pump above the 6800 level.
This night we had some maintenances at the exchanges so they generated big spykes to different price levels. The chart on bitmex (provided by tradingview) shows the highest price at 7148. Directly on tradingview, watching the perpetual contract, we had a high at 6683. Kraken just went up to 6916.
In this chart analysis u can see a H&S continuation pattern in turquoise. And directly next to it, u can see a inverse H&S in blue, as a reversal signal. The amazing thing is, the same time we go up to set up the high for the right shoulder, we are finishing to form the left shoulder of our inverse H&S. The next incredible thing is, to finish the right shoulder of our H&S Bearish Continuation Pattern, we need to go to around 5700. And then the breakdown starts with cracking the neckline. That will build our inverse head. A regular fall down should be the same range, like the height of the head from the H&S continuation pattern. That would set a level at around 3600. That´s by the way the level where the big bull run from 21th September 2017 began.
I just drew the head till 4000. That would already be a very big price decreasing. Then we will go back up to the neckline and form the right shoulder. After breaking the neckline of our inverse H&S, everything is set up for the expected bull run, which could bring us to the 10k level.
Also there are some ETF news these days. It´s important to recognize the difference between these ETF applications. Tomorrow will be a decision, but that´s just a Future ETF and not the real one. The "real" one got postponed. I think the rejections/approvals will help the market to move in the right direction at the right moment, to form these perfect chart pattern.
Please don´t hesitate to write a comment if u agree or not. If u enjoy it, like it ;)
Good Time!
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