ugly Head and Shoulders comming? Need new monitor for this fall

Hi everybody!

This is for educational purposes only!

REMINDER: Please respect the fact that Bitcoind is kidding with me all the time.
In the moment whem my analyses will be puclished and locked it will go other way that I have predicted!

You been warned !

Let's get to it :)

If I check 1h graph I see that one big ugly H and S is forming.

I have marked price change with red lines. Let's assume that this will play out. The blue line is maximum and the turkise line is neck line.
So the high of the head is expected fall if this pattern validates.

And then I found out that my monitor is not big enought so I could draw a target. After some zooming I did it so I get whole picture on screen.

So If I understand right then the price should fall to some 6900 first. Then jump to some 7500 zone. And then fall bellow 7000.

Then the panic will kick in and we will dive down, down, down ...

This is only theory. We will see what will happen in reality :)

I would appreciate your comments, likes and other social stuff :)

Happy trading

p.s. I need 14 reputation points more. Can someone suggest me how to do it simply?

Comment:

BTC hasn't disaponted. It looks like it will invalidate my prognose in less than 2 candles.

Candle that was used for Head has max. close value around 8320.

It looks like that something else will play out.

I see that money is still flowing into Bitstamp and Bitcoins are vanishing.

If I use mr. Spock logic than I can expect higher prices.

Well there is bearish diveregence on chart. RSI is falling but price goes up on hourly. I can see also bearish diveregence on MFI (money flow index I think).

So on the other hand this rise should stop slowly. Of course we might see bull trap before that. BR R.

p.s. According to my luck I could use Bitmex and got rekt in less than 15minutes:)

Comment:

Hi!

It looks like that our dera BTC hasn't disaponted. I have to redisign my picture.

I have anticipaced sharp rise and sharp fall. But so far it looks more like so called bart move so we will probably see more trading in zone 7800-8200 on Bitstamp for a day or two.

That means sharp rise, hanging for day, two or three in that range. And then all of the sudden it will be the end of the world with sharp fall and TW full of stories about the end of crypto ;) .

Now I see that even bart move is not the right description but I have to use Batman or even bubbies or even camel move ( wikipedia.org/wiki/Camel ) . The problem with camel move is that I can't define if it's one-humped or dual-humped. I thnik that one-humped is already invalidated.



BR R.

Disclamer: This prediction is for educational purposes only. :)

Comment:

Hi!

After about a week I must say that my idea is actually playing out very nicely.

There are some, how should I say, inconsistences :)

Well instead of head I have two heads (double top or special price action: you buy one, but get two :) ). According to theory in the books this should be reversal pattern, so the price should fall after second top .

I can say that second shoulder will be formed if price declines to 7500 and lower. I fit start to rise than this pattern should be invalidated.

An then I can expect fall of the price far under under the neckline. In my first prognose I have said that it could go down to around 5000. Since this pattern is ascending I think I have to repair to aproximate 5500 value.

Keep calm and remember:"There is no price to high for a bull. And there is no price to low for a bear. "

BR R.