SignalSwiss

[BTCUSD] HEAD AND SHOULDERS or HARMONIC STRUCTURE

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Traders,
Bitcoin continues to work the technical rebound as per our expectations, from the technical point of view, the main trend still remains bearish , but the pair should be able to develop a technical rebound at least up to 10,000/11,000. Looking at intraday charts, we see two potential patterns: Head and Shoulders and a Harmonic Structure, both of these models have the same bullish target.


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Comment:
Comment: Trend is still bullish!

Comment: South Korea is reportedly considering a technology-specific licensing scheme as part of it proposed regulation of cryptocurrency exchanges.
According to BusinessKorea, a government official involved with a virtual currency task force said Sunday that such rules, which bear a similarity to New York's controversial "BitLicense," introduced in 2015, could be enacted or at least debated.
The news appears to mark a softening of the country's stance after some regulators had proposed that exchange-based crypto trading be shut down completely, as it is in China. South Korea has also recently moved to ban the use of anonymous virtual accounts for trading in the country, with real-name accounts being compulsory from the end of January.

BusinessKorea cited the government source as saying that another option on the table would be to impose taxes instead of creating additional regulations

"We will hold a meeting to respond to national petition related to digital currencies this month but we are highly likely to make up for the defects of existing measures only at the meeting," the source said

The news source added that government is likely to make a final decision on cryptocurrency exchanges after local elections due in June.

Launched after some delay in June 2015, the New York State Department of Financial Services' (NYDFS) regulatory framework – dubbed the "BitLicense" – sets out that no company or individual can offer cryptocurrency services as a custodian or exchange without first receiving a license, and they must also operate in compliance with stringent money transmitter regulations.
The high cost of attaining a license has meant that a limited number of exchanges now operate in New York, while some have left the state completely.
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Comments

i think you are one of the best traders here. what you draw it is becoming reality. it's amazing. i made some mathematics and here are my results.

if ln(x) = 20000 $ then x= 9,9034875 --

y= (x*0,62) --
y= 6,1401
e^y= 464 $

i think that real price of btc is 464 $..
maybe i am wrong and stupid but i found this one. What do you think?
+3 Reply
SignalSwiss antikseremoni
@antikseremoni, nice post!!
Reply
Unireal antikseremoni
@antikseremoni, could you further explain for those of us less mathematically gifted?
+1 Reply
@SignalSwiss perfect. great analysis!
+1 Reply
update please
+1 Reply
You know inverse h&s in a downtrend can work as consolidation as well?
+1 Reply
Nice pickup. Looks like it could be the inverse H&S. If so good call.
+1 Reply
so it is an inverse Head & Shoulder? Shall we expect a bounce or further correction?
Thank you
+1 Reply
bro, the left shoulder volume doesnt confirm
+1 Reply
SignalSwiss UnknownUnicorn1629946
@UnknownUnicorn1629946, you must not look at the left shoulder, right shoulder you have to watch, bro !! have a nice weekend!
+3 Reply
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