RoyVan Der Reijnst

Possible Inverted H&S on BTCUSD

BITSTAMP:BTCUSD   Bitcoin / Dollar
196 15 3
In the case that this pattern completes, we should see a solid ~12-13% rally in the coming days.
This one can't be confirmed it's drawn wrong, sorry to tell you...
And what if we interpret the head and right shoulders as a possible C&H? That one actually is a continuation pattern.
Especially taking note of the rising volume in the runup to 395.
Maddie RoyVan Der Reijnst
An cup and handle takes more than 3 months to form .... So that couldn't be possible hehe
Hows that so, with markets being fractal on all scales and stuff?

Also, do you have a specific view on the situation as it is now?

I see consolidation at the moment with a tightening range. A decent sized move is coming closer, you got to agree on that one at least :p
johnrfraser RoyVan Der Reijnst
I'm apparently pessimistic but whenever I say optimistic things it generally comes back to bite me, but I'm going to give it a try anyway...I see the indicators (I use MFI) going through whole cycles and price not dropping too far when they bottom out...what's more I see 4hr and 1day cycles coming to a bottom at the same time, which very shortly will mean confluence of 1hr, 4hr and 1D, all bottoming out at the same time...which should = a very big buy move.
Would you agree?
johnrfraser RoyVan Der Reijnst
Is this not a very bullish signature?
MFI travels the same distance top to bottom on two occasions.
The first time it travels from 440 to 340, -$100
This time MFI has dumped the same distance but price moved 394 to 364, only $30
So 3 times less price movement for the same drop in MFI.
johnrfraser johnrfraser
Sorry like this...
johnrfraser johnrfraser
Sorry!! That was totally wrong. It's more like Half, not a third...
Maddie RoyVan Der Reijnst
I'm very disappointed of your -1....
I'm only trying to help you further. If you don't want to be informed thank don't ask me...

Maybe you should take a look @ the charts i've made I now it from experience... You could also google it to found out how long it takes for H&S 's to form.

And yes I have, sideways, bit down in the couple of days. longterm up.
Don't know who -1'ed you there. Let me say that I would never -1 a constructive opinion, whether I agree or not.

As a sidenote, I don't agree that some patterns are only valid on the large timescales. I mean we just saw a H&S with the shoulders being 8 hours apart (6.00 and 14.00 GMT).

What do you think of my other idea I published a few days earlier, that seems to agree more with your outlook I guess?

Bitcoin bubble cycle complete?
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out