Another classic HS ? :-)

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
Details at chart. Right shoulder and head are pretty similar.
Important moment probably incoming - test of trendline .
Comment: Neckline around 2780cny, potential target if we'll go out of HS is 2700-2720cny.
Comment: If we'll bounce off the neckline, new high is likely (2854cny+ and 2884cny is still major resistance/target) but slowly, with sideways and many chops.
Comment: Perfect HS prediciton.
Looks like neckline + trendline is strong support for now:

Comment: IF pattern from HS (new trendline in short+breakout) will repeat itself now, we should see something like this below. Btw. I don't see more than one more repeating this pattern co I think it will bounce from trendline and start new bullish run, maybe not so fast as at chart.
Religion lol do they still do that? N yes sir, shorted near the top but yes, hoping it does keep breaking down making a perfect H&S but don't remember seeing a top H&S in btc, time will tell.
oldstout alteredend
God is trading long at you, always believe in your success.:)
We can hope!
oldstout alteredend
Hope is for religion, trading is not about hope, but about good plan and accuracy :-)
+1 Reply
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