I previously published a chart pointing out the similarities of the previous attempt at $5,000. For reference please take a look (link below). We are moving towards the ATH again, but there is still alot of uncertainty in the air. The head and shoulders pattern that everyone was talking about yesterday appears to have formed, meaning there should be more downside from here. Based on the fractal pattern, I would expect us to remain at the $5750- $5,500 levels for a day or two more then begin a swift decent to $5000 (hard psychological resistance) and probably a little beyond (based on previous resistances $4900-$4700). If we move back up from here above $6000, I'd say all bets are off, but so far this pattern looks near identical.
This is merely an observation and not investment advice. Please let me know what you think in the comments below and if you have any input or if you see anything else I am missing.
Thanks and good luck trading!
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Just about to hit the last flag before the drop... down we go.
Order cancelled
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looks like we might be going up instead... cant win them all.
@Brodie_MT - great chart, below $5,000k is just right
Brodie_MT
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@mikewater, Thanks man!
ClaudeGauthier
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same observation. There is a pattern that repeats. That pattern reflect the human behavior which is the same each time... :) Waiting for the dip like 09/15
Brodie_MT
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@ClaudeGauthier, Its actually the third time this pattern has played out so keep your eye out for variations!
wagZilla
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Awesome chart, bro! Thanks for the advice. I'm agreeing with you on this prediction %100.
we're getting to the last flag !!!! Fib, Candle stick, etc will show us the direction !! Prepare your dineros to buy Btc in mass guys !! And after HODL :)))
Brodie_MT
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@ClaudeGauthier, damn looks like were going up... 6k broken.
ClaudeGauthier
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@Brodie_MT, shit, I was expecting a dip...I have a big bag waiting to buy BTC !!!