Inverted head and shoulders prediction (for fun)

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
581 10
I hate predicting timeframes. I was not going to publish this, but I thought what the hell - I will for fun.
Now, although this chart is a bullish prediction, I remain pretty NEUTRAL for a few reasons;

1) We have heavy resistance around 1115. We have failed to go through it 3 times already.
2) We just had a insane bullish run, people are wanting to take profits, and
3) Those who have not bought want to wait for a cheaper entry, especially after such a dramatic rise.
4) I just don't feel the momentum of a 25% rise in one day.

I am now holding BTC , but I won't relax until we push through 1115 with some decent volume .

Now, on with this chart:
It looks like it could be an inverted H&S . Usually after an inverted H&S , the price rises equal to the distance between the head and the neckline. In this case on the 15 chart, its about 262 points. I copied the line and pasted in two parts of the neckline. One in the centre, and one near the breakout point, and I made the distance between the tops of those bars a "target price range zone"
Like I said, I have never seen someone accurately predict time, but if the breakout point acts like a point of symmetry, then I would guess we would hit this target in about 24 hours.

*Disclosure: this chart could be complete BS, but we will find out. I would love to hear some feedback. Take care!
Looks like we are below trend line
Nathanael ostaphedge
yea, 100%, We are however, out of our downtrend. So I'm at least BULLISH. Not sure about the inverted H&S anymore
wade8977 Nathanael
did anyone else see the 480 bitcoin wall at like 1130-1145 virtually all day today? could that have factored in? I feel like it really wanted to go up
Well my timing is off, obviously. Time was based on a symmetry, which is kind of dumb. Lets see if we hit my target price point.
wade8977 Nathanael
did you factor in the fact were sitting $100 off the all time high? I got duped by that swing to 1180 and thought you were going to have the timing nailed. In hindsight, based on absolutely nothing, a major resistance before the all time high makes sense to me...
Nathanael wade8977
yea, thats why I included the ATH on the chart. I thought the resistance push through 1115 would be enough to get us to the ATH. Guess not
wade8977 Nathanael
I think its coming soon. I think your right, but your time frame didn't include the ATH factor....i feel like every push before an ATH has taken way longer than expected. Again, based on nothing.
looks like your right so far! I hope your target is right too, for selfish reasons :)
Gox has passed 1115, currently 1174.
I also thought the same and tried to draw it but just couldn't I'm not going to feel comfortable myself until we've passed $1150+ with good suppor
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