jia888
Long

HUGE Cup & Handle Forming! Breakout Target $35,000!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
1. Inverse Head & Shoulders still in tack and need few more days to reach neckline for breakout.

2. BTC will continue consolidating on uptrend after the H&S breakout and get major resistance near $19,000 on the top of the cup line.

3. Most likely it will correct to around $12,000 before exploding to new highs and reach around $35,000 around September or end of the year.

Zoom out and look at the bigger picture! Hodl for the big gains!

Happy trading!
Mar 16
Trade active: https://www.tradingview.com/chart/IqL2jq...

Everything still moving as predicted. Head & Shoulder break out soon.
Mar 16
Comment:
Apr 24
Trade active: looks like BTC just broke out and riding heading towards the target
lol
Reply
Hope this happens as a bull run like this would be sweet. However this inverted H&S you have is ridiculous. The pattern will print a IHS but not util we follow your projection and reach 17-18k and retrace to 12k... THAT will be the right shoulder.
Reply
jia888 BullWick
@BullWick, made a similar call and traded for great profits back in July on ETH when it was around $180. but what do I know, just another crazy guy with profits...
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BullWick jia888
@jia888, I don't see a H&S here either lol. But if you're a crazy guy with profits, you're not crazy...you're eccentric. 'Crazy' is a word for eccentric guys not in profit ;). GL man.
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jia888 BullWick
@BullWick, not everyone have the ability and intuitions to see a lot of patterns. But one day you will SEE. I am sure of it.
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BullWick jia888
@jia888, lol If you look for H&S you will see them all over every chart...esp if you start taking liberties with what qualifies. I just don't think these qualify. Either way I'm rooting for your idea and hop BTC shoots up...even if it has nothing to do with a phantom H&S :p.
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jia888 BullWick
@BullWick, when you trade long enough and understand why H&S is formed... then you will recognize them and able to trade for profits. Not every H&S has to be perfectly flat or shaped like head and shoulders. http://www.talkmarkets.com/content/etfs/gold-on-the-verge-of-inverse-head-and-shoulders-breakout?post=127573
Reply
BullWick jia888
@jia888, Oh I get that they needn't be flat but a you have like a 45 degree neckline here. I just see that as breaking out of a descending channel not breaking out of a neckline. And don't worry about me trading for profits...can check out some of my ideas for bounce plays if you want easy 50-100% profits in short period...nearly 100% since Sunday so I'm not hurting too bad with my inability to call channel breakouts H&S breakouts lol... I would still play those, just call them something else as I am on same side of your BTC trade. Wondering now if we went 1,2, 3, and on 4 of wave 3 up now or if we just put in the B of retrace and are going to put in a C down to 8k - 7.8k region before big move up. Both counts are bullish. Care to share your thoughts? Always interested in views of those banking profits
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jia888 BullWick
@BullWick, I don't really count waves much because so many there are so many levels and most everyone I've seen always counted them wrong and it's not a great trade strategy for me. I traded stocks and options for 14+ years I use TA to set up my trade parameters to set up my risk/reward levels to create complex option spreads. MCAD is about to turn bullish, about to go above BB/20 DMA support, after a double bottom right at the 78% Fib retracement. I think this puppy is ready to shoot pass 10,000. which also my neckline of my CRAZY H&S pattern.
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