BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Howsit boys and girls, ladies and gentleman, lets take a look at btc             COINBASE:BTCUSD             . We can see a head and shoulders pattern forming on the 4hr to the value of 1250$. This breakdown falls perfectly in line with my target of 7500. Should the head and shoulders act as a reversal we can see a retest of 11500. A break above the right shoulder will indicate a reversal and a break below 8800 will see us breaking down further to 7500 as a 1st target. With no support at 7500 other than the head and shoulders pattern, we can see a retest of 6000.

For now im bearish waiting on confirmation from the pattern on COINBASE:BTCUSD            

If you found value in either my predictions or my analysis as a means to learn, please follow and like and share. If you didnt, please keep it to yourself its rude to gossip.
Cryptodad out!
i see higher highs and higher lows :), means we will go higher
+1 Reply
@GazMema, if we just look at the 4hr you would be correct, however i start from monthly and work back. On the daily we can see a bear flag forming, this chart is short term analysis only
+1 Reply
go to study what is an H&S INVERSION PATTERN of a bear trend...it's exactly the opposite formation you draw. The figure you painted can happen when there's a bull trend to invert..anyway i like the colors of your graff.
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reuben161 FedericoContini
@FedericoContini, im always happy to be contradicted, it promotes learning opportunity. I will delve deeper into the H&S pattern for future reference. I simply provide fractal possibilities. No one can tell what the future holds. H&S patterns typically indicate reversals but not always. The volume does not signal a reversal and hence you will notice my direction in the headline :-)
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