And when it drops to 2000 no one is going to buy it because they will think it will go to a 1000, lol
DontKnowWhatIdo
⋅
Worst analysis i have seen this year to date... First head and shoulders is a reversal pattern which normally develops at the top of the trend or at the bottom. Second, how can you have left shoulder higher than the head? Imagine if you look in the mirror and your left shoulder is higher than your head, would you call yourself normal?
DatCryptoBoi
⋅
@Karolis99, I guess you read all the TA books and know better.
First, how do you know this is not the top of the trend from 3.2k - 4.2k.
Second, I can give you multiple examples of lopsided H/S which played out, much to the bemusement of traders. For example .. ;)
DontKnowWhatIdo
⋅
@AndrewBth, Fair enough, i agree with the potential fall coming in the near future, but your h&s drawn very poorly...
DatCryptoBoi
⋅
@Karolis99, yeah I know, it's ugly. it's a scenario I'm playing in my head. Im still overall bearish on the market. Don't see a reason to long the farm.
DontKnowWhatIdo
⋅
@AndrewBth, defo bearish
tarnschaf
⋅
Crashing below 3200 would imply to go below 200MA which i would doubt at this point in time (imo we are to close to the first touch) -> double-bottom believer also present :)
DatCryptoBoi
⋅
@tarnschaf, well bitcoin does like to disappoint / and bore to death. I agree that a straight crash is unlikely but something like this (long sideways and eventual drop) could well play out
tepmoc
⋅
@tarnschaf, 200MA weekly you mean? You can go below 200MA but as long as closing price stays above its fine, wicks doesn't count only closing price