BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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Hello Friends, Traders and Interested,

herewith a new TA Upadte to Bitcoin . And, in my opinion, a very important Situation.

Into the Chart. What I describe now might be a little bit unusual, but I will show you the problem.

I see an unnatural Head and Shoulder pattern, with a double top around 11.800 (Head). If we take this double top as a Head, than we see a perfect pattern. Now we are at the neckline of this (unnatural H & S). If this H & S will work as other, the uptrend will start now.

In addition, we have two negative indicators that could support this scenario. On the daily Chart we see three green (White) soldiers. This pattern signs often a hard reversal. The next thing is the calculated bottom of the possible H & S. This bottom will end exactly at the bottom of February. (!!!) This would mean a double bottom and could start a (healthy) uptrend.

Okay, I hope I could explain the Problem I do see here. Lets wait and see what will happen. With this TA I just wanted to show the maybe existing problem BTC might be in.

As always, no trading advice, just eduacational. Trade on your own risk and trade safe.

Yours, Sascha

A like or a follow makes me happy.

i liked and followed you. I also follow botje11...he discusses a similar odd H and S...check him out
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