Not so bullish yet...

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This situation is very similar to what happen higher... I know everyone wants this inverted H&S but as long as it doesn't breakout, I'm bearish .
I may be a rookie, but after seeing so many textbook H&S in these last few months, this inverted one has to be the most desperately concocted excuse for an H&S I've ever seen....and it seems like EVERYONE wants you to know it's there.
+2 Reply
Blockshame Jeff_Cryptopop
@Jeff_Cryptopop, right! All this people in crypto want their profits as fast as possible...
the most ppl are not doing their own research, or TA, they just follow some gyes who predict some moon signs. thats the reason why so much ppl took their trust in this H&S right now. They want other ppl to believe the same, to start a new rally and make profits.

Its not a lie that there is a reversal of the downtrend, the resistance were broken, an H&S is forming atm, but look in the past, for example 2014, there was always a breakthru the downchannel, following by one more drop down! That happens all the time after... and it can happen exactly now! Many ppl could lose much money!
+2 Reply
Jeff_Cryptopop Blockshame
@Blockshame, Agreed. Those long green candles were nice yesterday, but today we appear to be almost back to where we were last week. My TA skills may be limited (but growing), however I can spot the BS a mile away.

I don't fomo these supposed buy zones because I trade alts for more and can short if I need to.

Keep doing what you do and trade safe. ;)
+2 Reply
justjohnpark Jeff_Cryptopop
+3 Reply
Canardator11 justjohnpark
@justjohnpark, haha bullish @ 6900 but yeah...
Jeff_Cryptopop justjohnpark
@justjohnpark, Not rekt at all. We're still in a descending channel, the top of which right now is around 7800, the bottom of which is currently about 5400. It still remains to be seen what happens when we hit our head on 7800.

Beware of the mangled looking, supposed inverted H&S. Whales don't just set traps anywhere. They wait until delirium runs high and they can fool lots of people while the greed overwhelms common sense.
+1 Reply
Canardator11 Jeff_Cryptopop
@Jeff_Cryptopop, I agree. Often when everyone see the same thing, it doesn't happen. We can not all win and usually the majority lose. The time plays for bears now... If the bulls want to break, they need to make it quick, before everyone realise that we are just below a big resistance and we have (big) room to fall. Let's see :)
+2 Reply
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