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karamazov06

BTC USD daily H&S in formation

Short
Bitcoin (BITSTAMP:BTCUSD)  
karamazov06 Updated   
BITSTAMP:BTCUSD   Bitcoin
Trend Analysis Head and Shoulders BTCUSD BTCUSDT Bitcoin (Cryptocurrency) btcshort btcusdshort
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trendanalysis headandshoulders btcusd btcusdt bitcoin btcshort btcusdshort
It seems that BTC is forming a H&S on the daily time frame; it'll be confirmed if it continues to go down and bounces around 6370.
Wait and see...
Trade active:
This is only the beginning...
Comment:
Ultimate target @ 5870
Comment:
Now it should bounce to form the shoulder's shape
snapshot
If not, it'll continue to go higher to break the pattern

ETH did hit its historical support :-D
Comment:
Neckline support reached
Trade active:
Next stop around 6800
Comment:
It didn't exceed 6600, and the shoulder won't be so large; it lack of momentum and the exhaustion should bring the dump sooner
Trade closed manually:
H&S not valid but incoming events (Mt Gox, Petro....) has still potential to trap bulls very soon, be careful!
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