BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
If you reading our analysis below, keep in mind that we don't trade CRYPTO CURRENCIES, so this analysis is reserved for TradingView Users and all our Followers.
Having said that, the trend is bullish but we are close to the TARGET, and on H4 chart, the harmonic structure in development still keeping the bullish trend in short term.

How can I manage the positions?
- If I am a "Scalper", I can try to take a long position with a tight stop, and excellent Risk/Return ratio.
- If I'm a "Day Trader", I can look for a reversal pattern around the resistance area and try to take short position (reversal pattern required).

If you think this analysis can be useful, leave a your comment or your ILIKE!
Thank you for support and trade with care!

Hello And Thanks
good nice
+3 Reply
bitcoin dump hard 3600 usd not 5200 ; mate
+2 Reply
no longer valid as price reach far close to A.
+1 Reply
can someone tell me the difference betweetn a harmonic pattern and an inverse H&S?
+1 Reply
@aresary, Yes I can explain.

Harmonic Patterns primary use Fibonacci number and aspects of Elliott Wave to create resistance and support using a wing-like shape pattern. They are very useful in predictive analysis and high a high degree of accuracy. Such Harmonic Patterns include Bat, Cypher, Gartley, Crab etc...

It is definitely worth studying both Fibonacci and Harmonic Patterns.

Inverted H&S (Hea & Shoulders) is just as the name implies, an upside down H&S
H&S per se does not rely on Fibonacci but more a visual representation of 4 components: a right shoulder, a head, a left shoulder and a neckline. Volume is higher at the peak of the right and left shoulder and Head

Head & Shoulder is often viewed as a bearish pattern by textbook definition. However, I have traded for over 10 years, and have had very profitable trades using Inverted H&S as a bullish pattern, when the neckline is broken.

Hope that helps,
Sean Vengan
+6 Reply
@SEAN_VENGAN, much appreciated! thanks a lot
I agree with your Harmonic Pattern and lines of support and resistance. Thank you for sharing.
+1 Reply
Zooming out, I disagree. Nothing gains $3,800 in 6 weeks without receiving a major correction. Even Bitcoin. Especially Bitcoin.
Elliott Wave Theory considering the larger cycle from 2011.
Fundamental analysis of the global cryptocurrency space.
Basic chart patterns.
Weekly Stock RSI cresting with bearish crossover. Daily failing to stay above the 20% line.
MACD on the day has had its bearish crossover with a clear downward trajectory.
Price has crossed down over the 4hr MA EXP band for the second time having traded above it for the last 2 months (save waves 2 and 4).
+5 Reply
kojinsama kojinsama
@kojinsama, 3200^.. typo.
pa1rick kojinsama
+1 Reply
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