Maddie
Long

Head and shoulder pattern on Bitstamp predicts a new leg up!

BITSTAMP:BTCUSD   Bitcoin / Dollar
Hey guys!

Just spotted this head and shoulders formation on stamp. This is the inverted version of a normal head and shoulders. The inverted head and shoulders is typically seen in downtrends. The inverted left shoulder should be accompanied by an increase in volume . This is what we saw around the 18th of august. The inverted head should be made on lighter volume . The rally from the head, should show greater volume than the rally from the left shoulder. Ultimately, the inverted right shoulder should register the lightest volume of all. This is what we're seeing now. If the market rallies through the neckline, a big increase in volume should be seen.

Our target is calculated just like the cup and handle pattern.
Measure the distance between the head and the neckline, and that is approximately the distance that the price will move after it breaks the neckline.
533-453 = 80USD, 538+80 = 623USD

Have a good day & don't forget to like :)
smalldarkcat
2 years ago
623 too hight.
below 560-570
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bwy PRO
2 years ago
For best results wait for the final shoulder to actual appear (I've not seen any h&s in BTC though). then trade only once it breaks the neckline.
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Maddie bwy
2 years ago
Thankkyou, I will. The neckline is my buy zone :)
From there I know we'll go back to at least 580 there we have some strong resistance.
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WaveTrader-2015
2 years ago
Making good trades .good on you .those that mater don’t mind and those that mind don’t mater .keep going youre a good trader .
Reply
Maddie WaveTrader-2015
2 years ago
Thanks :)
Hope this helped you, I will.

Have a good day!
Reply
WaveTrader-2015 Maddie
2 years ago
Hi Maddie was helpful . Im starting to think that what some thing Jozza said might have some truth to it .he said that some of the last moves were very low on volume like a pump and dump .making the bounce into something ells Like they where manipulated at key points. if it was low volume.then it would not be expensive if they know what they are doing .people full margin long would go for it .then bull trap . Im a green noob so I am new to this .so Im looking at past vollumes of similar situations .so I got no answers at the moment .trust youreself .Im new to this .cheers
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WaveTrader-2015
2 years ago
Hi Realy sorry .what i said in the chat about you and Alpha being related .looked up youre profile .looked up xmadelon1995.and I felt like an idiot .sorry
Reply
Maddie WaveTrader-2015
2 years ago
Well... thanks!
That's me.
I accept you apoligise.
Reply
WaveTrader-2015
2 years ago
Yea looks like h&S is forming , DanV Has put out charts on it .you’re Long is Looking good .and thanks .Cheers : )
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