Alexander_Nikitin
Short

btcusd. H&S at the powerful resistance level

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Price broke the neckline of the head-and-shoulders pattern. The target is typically calculated as the hight of the head projected to the downside. Look how perfectly the head-and-shoulders pattern worked recently.
Comment: as we broke the right shoulder the pattern becomes invalidated. An invelidated bear pattern is a strong confirmation of uside momentum. Look long on this asset.
Comment: 9K is the potential next area of resistance.
Comment: 9k area is reached as predicted.
This pattern was found by the MPS-5 pattern recognition software: http://www.ps-software.net

Get your free pattern trading course: http://ps-software.net/learn-the-patterns/

Alex Nikitin Youtube channel: https://www.youtube.com/user/alexniquitos/
hope you get rekt for shorting bitcoin
+2 Reply
dinopiccinin DukeDinhd6
@DukeDinhd6, It would probably be best to just worry about yourself, and not wish losses on others. It's pretty sad how common it is for grown men like you to be acting like teenagers by making such comments. Have a nice day.
+4 Reply
@DukeDinhd6, go and read the idea first.
+1 Reply
The neckline has been broken with a super powerful candle. Guys forget the rebuy for a second and enjoy the ride!
Reply
@caimano, your sentence makes no sense. what rebuy? what neckline? are you sure we are looking the same charts?
Reply
LOL are H&S the new trend of the year? Didnt seem to work out here bud
+1 Reply
@toabyt, It seems to me that you didn't understand the idea at all. It was a bearish H&S that didn't work because price broke the right shoulder to the upside. broken bearish H&S = strong bull signal. that's why the short positions were liquidated and long positions were opened. target level was predicted as 9K. did you read the description?
H&S was always popular among trader but the were no bitcoin H&S opportunities before that's why the crowd payed any attention to them recently.
Reply
Very accurate, still believe it can go both ways from 9.2K/9.4K:

+2 Reply
@bitcoin, yep. it is decision level. priceaction will tell which direction it is going to:)
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Hey guys, I am new to trading view and I don't know how to publish it in tradingview so I made a video.
I shared my analysis here: http://dai.ly/x6eldln. Do enjoy.
Reply
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