BTC H&S short

BITSTAMP:BTCUSD60

Bitcoin / U.S. dollarBitstamp

Description

⋅ Dec 23, 2017 4:37 PM

My view on BTC. I believe the pullback is not over and the H&S model could prove this theory.

Head and Shoulders

Comments

Bovem

⋅ Dec 24, 2017 9:48 AM

volume doesnt seem to quite match up

NKY

⋅ Dec 24, 2017 10:04 AM

@fathomdesign, you are right, it's quite low atm.

tomek.swierszcz

⋅ Dec 23, 2017 7:21 PM

To fully form right arm, $15500 resistance must be be passed, which seams now to be very hardly possible, right? (4pm UTC)

NKY

⋅ Dec 23, 2017 9:42 PM

@tomek.swierszcz, I think it is al small resistant. The big resistant will be at $16450, if this doesn't break, it will complete the right shoulder and price will drop.

CryptoAddict77

⋅ Dec 23, 2017 6:27 PM

Shouldn't your target be $4000 based on the head and shoulders?

NKY

⋅ Dec 23, 2017 6:57 PM

@hubavka, Yes that could be the case. Although I think there will be a lot of support at $8000.