CoinMajesty
Short

Head & Shoulders + Rising Wedge. Is Bitcoin About To Dump?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Price action broke out as I expected in my previous idea and it's currently heading to form a Head & Shoulders around 16700 USD. The reason why the price should fall down eventually is the appearance of a rising wedge pattern. Support at the confluence shown at the end of the right triangle.

There is a pivot between December 31st and January 1st.
Trade active: Almost there.

Trade active: Bitcoin formed an ascending broadening wedge pattern, dumped from it and got rejected after the bounce. Next bounce should around 13500 so we're close to it.

Trade active: Perfect bounce at 13500 as expected. It is either going to 15100 once more now to dump afterwards or directly dumping down to 11k or so.

Trade active: Next stop for BTC at 10200. Could have a bounce but considering the Head & Shoulders pattern, it should dump lower from that point.
Comment:
Comment: Diamond Pattern Formation appeared. These ones normally end up breaking down.

fail!
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any update?
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thanks a lot
+1 Reply
still valid?

was a lot of buying power at last bounce
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Very nice buddy. Shoot me a message on telegram my contacts got dumped or something. What’s the timeline on the bottom?
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majorlee bornblu1973
@bornblu1973, 31st, today it seems, Juan mentioned between now and first week of Jan tho i think
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we are looking for update :)
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majorlee YigitGundur
@YigitGundur, come join us in the telegram chats for updates
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majorlee YigitGundur

https://t.me/ArtCoins @YigitGundur,
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