PatienceIsParamount

BTCUSD - Major Inverse Head and Shoulders - BTC 2018 Overview v2

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hey guys,

This is version two of my following idea: I previously called 7900 the bottom of this downtrend. It looks like it is in fact 7800.

A major possible inverse head and shoulders could be forming for BTCUSD (and a head and shoulders for BTCShorts :D). This should detract the clever shorters with bags of money from shorting. I strongly believe in the next few days, we will easily get back to 9000 and soon after get a retouch of the 200-day MA.

All the people saying we're going to go down to 6K or 5K are simply people who are currently shorting, and drawing meaningless charts and Elliot waves that really mean nothing and are based on nothing.
The general sentiment is great with Bitcoin right now... Lightening Network is growing more and more, more institutions are implementing the blockchain, more businesses and e-commerce stores are supporting Bitcoin , more countries are supporting it.

There's just no reason at all for it to go to 6K, 5K or even 7.5K.

June will be the month things kick off...

Remember,
Patience is Paramount!
Comment: Whilst writing the idea, I wrote 'or even 7.5k' just randomly based on nothing really and just confidence. Disregard that.

Comments

I am a true believer! I even said few days ago by the end of the month we will test the 11k barrier. Actually now I am convinced more than ever, my doubts started when we didn't dropped below 8k for a while. In order to reverse to 10500+ we needed that drop to sub 8k levels. That said right now I feel the FUD. However, being pro poker player I'll throw my emotions away and will HODL, altho my alt bags are literally bleeding (-21% and I HODL). In my opinion in such violations if you didn't joined the first wave the best action is to keep tide, hold your coins and wait for comeback.
+2 Reply
@cryptozwerg, Yeah exactly. It's better to sell in the green, than to sell cheaply in the red. Panic selling is a fool's game.
Reply
H&S patterns have proven to be unreliable in this market. I agree with you about Elliot Waves (waste of time).
+1 Reply
I don't think, that the bear market is over. We may very well see "6kilo" and even "5kilo" this summer.
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HAHAHAH good analysis HHAHHA
sorry...

Quote above:
There's just no reason at all for it to go to 6K, 5K or even 7.5K.
Reply
@ahos, Whilst writing the idea, I wrote 'or even 7.5k' just randomly based on nothing really and just confidence. Disregard that.
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Umm its 7.5k:D
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By the way, I hope you are right about the unlikelihood of it falling below 7.5k. But things are looking quite grim. Panic selling has already begun.
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