Little more 'technical' for once - Inv. H&S - descending wedge..
Possible green Inverse Head and Shoulders.
Right shoulder still in the making, currently in a descending wedge near the 0.618 fibonacci (@ ~3650$ bitfinex ~3530$ others). Possible breakout to the upside - target would almost compete the H&S.
H&S target than around 5550$ bitfinex / 5430 others.
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If you actually trade on this and get burned .. not my problem
if you actually trade on this and make money .. "give me half eddie"
If I actually trade on this .. i wont tell you.
Right shoulder still in the making, currently in a descending wedge near the 0.618 fibonacci (@ ~3650$ bitfinex ~3530$ others). Possible breakout to the upside - target would almost compete the H&S.
H&S target than around 5550$ bitfinex / 5430 others.
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If you actually trade on this and get burned .. not my problem
if you actually trade on this and make money .. "give me half eddie"
If I actually trade on this .. i wont tell you.
Comment:
descending wedge broke out as expected, target almost reached (~100$ lower).
Click play (and zoom in) on chart above.
Price declining since then (holiday's what did you expect)
Now forming a big Symmetrical triangle, target ~4400$ - 4500$, should finally close the H&S. (probably not in a straight line but preferably within this week)
Click play (and zoom in) on chart above.
Price declining since then (holiday's what did you expect)
Now forming a big Symmetrical triangle, target ~4400$ - 4500$, should finally close the H&S. (probably not in a straight line but preferably within this week)
Comment:
Breakout as expected
now going to test previous resistance as support
also in that, formed new larger symmetrical triangle (dotted line) coiling up, eventually breaking out (hopefully) forming ascending triangle while hitting 4350$ for a second time. if if if...
also in that, formed new larger symmetrical triangle (dotted line) coiling up, eventually breaking out (hopefully) forming ascending triangle while hitting 4350$ for a second time. if if if...
Comment:
other/new triangle, same basic idea
symmetrical triangle - continuation pattern
previous trend was up (except for obvious BART dec. 25th 00:00UTC - dec. 28th 15:00UTC)
(don't mind the counts, just there for simplification)
symmetrical triangle - continuation pattern
previous trend was up (except for obvious BART dec. 25th 00:00UTC - dec. 28th 15:00UTC)
(don't mind the counts, just there for simplification)
Comment:
i don't like doing intermediate update's (as in targets not fully acquired yet)
but because of planned downtime of bitfinex tomorrow, an exception.
Almost looked like it was about to break down but triangle still broke out as hoped for, halfway it's target at the moment .. looks like it's forming a flag.
Still cautious about it, this big move was entirely (volume wise) on bitfinex. So could have been on purpose because of afore mentioned planned downtime.
Nonetheless, if flag follows through ... if if if ..
but because of planned downtime of bitfinex tomorrow, an exception.
Almost looked like it was about to break down but triangle still broke out as hoped for, halfway it's target at the moment .. looks like it's forming a flag.
Still cautious about it, this big move was entirely (volume wise) on bitfinex. So could have been on purpose because of afore mentioned planned downtime.
Nonetheless, if flag follows through ... if if if ..
Comment:
Someone went stop-loss hunting again.
No head and Shoulders for you, good look with your dandruff.
Case closed
No head and Shoulders for you, good look with your dandruff.
Case closed
purple vertical dotted line is possible target for the purple descending wedge