BTC _ Alternate Path to 74xx

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
431 8
BTC _ Alternate Path to 74xx
Comment: This is the exact pattern that was run on the 15 mins candle before the bump up .

Here is the 15 mins version ,,,Hmmm makes me wonder

Comment: 15 min version with the same colors as the daily

Comment: A head and shoulders at the bottom makes sense to reverse poor old BTC back up to greener pastures ..
Comment: Also a clever way to break some shorts and longs ...
Comment: so this move up has to be a Bull -Trap
Comment: heading towards 6532 ...

Comment: keep an eye on this 15 min graph above as it updates quicker . IF BTC crosses the green line above then its probably genuine and BTC is being honest about moving up ...
Comment: updated graph and made the green line longer so BTC can find it..

Comment: Bitfinex gone for 2 hours
Comment: there are a few options here ...

There a H and Shouiders up to 67xx and theres also a 9 wrapping up on the 4 hour which could lead to a 1-4 candle movement down .
The other option is after the 9 candle wraps up BTC sets off a new count in the upwards direction to complete the H and S.
- The 9 candle wraps up in another hour then we will know.

Comment: ......if BTC break lower than 6495 then it will most likely be a visit to the 632x area .

But ....
If BTC remains above 6500 its going to complete the head and shoulders by heading to the 67xx area
Comment: Either way ..Iv'e a suspicion BTC is heading to the 74xx area - its just being sly about it by taking a disguised path so as to wreck a few shorts and longs along the way ..
Comment: Im going out on a limb here and stating that BTC is going to move past the 67xx area ..its been hovering in this zone for so long its going to move up past it . Plus that Head and shoulders is too good a deal to pass on ..buckle up and get ready for the move up.
Comment: 6652 currently but this move is incomplete till there a candle closing above 67xx or 71xx
Comment: Note : BTC can drop as low as 6514 and still recover
Dropping below 65xx is a problem

Do you still think it's a BULL TRAP?
mycotoxin Potential_Try
@Potential_Try, keep an eye on this 15 min graph as it updates quicker . IF BTC crosses the green line above then its probably genuine ...but it smells fishy to me currently ..

Potential_Try mycotoxin
@mycotoxin, thank you so much.
and.. Should we consider the possibility of 6300?
mycotoxin Potential_Try
@Potential_Try, yes... i could be wrong but I think thats where BTC is heading ,,,
Potential_Try mycotoxin
@mycotoxin, It has helped a lot. thank you so much:)
mycotoxin Potential_Try
@Potential_Try, cheers
Is this a possible pattern?
mycotoxin Potential_Try
@Potential_Try, see the 15 min version above ..
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