Buy BTC HERE For a Great Entry

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In this technical analysis I share my current views on BTC /USD. I tried to make the chart as self-explanatory as possible, but feel free to reach out or drop a comment if you have any questions.
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Isn't that a head and shoulders pattern, bearish signal?
+3 Reply
lmulhare Jarkkko
@Jarkkko, It will be if it breaks the H&S neckline, but cryptocurrency traders are irrational. :)
+1 Reply
@lmulhare, Do you think irrationality invalidates technical patterns then?
+1 Reply
gothamnoire Trading-Guru
@Trading-Guru, If the patterns aren't validated yet, then of course irrationality can invalidate anything.
+1 Reply
lmulhare Trading-Guru
@Trading-Guru, Many factors can invalidate technical patterns. The extreme volatility of crypto suggests to me that those trading it are less risk averse. :)
+1 Reply
@Jarkkko, hey you're right! Thanks for sharing. I hadn't really picked that up yet actually. So this means that if the price cannot break through the resistance and moves to support we'd potentially looking at a very very sharp downwards movement
+1 Reply
shahid_arshad Trading-Guru
@Trading-Guru, so it would be better to wait for conformation at support before entry. I am impressed with your TA, very simple and direct to the point
+1 Reply
Trading-Guru shahid_arshad
@shahid_arshad, Exactly! I would always buy really close to support if you're going in with a long position. This can be either directly after a breakout (where the old resistance now just became support) or during a downturn where the price approaches the support from the top. Also in this idea you can see the two blue circles that highlight possible entries are both directly above an horizontal zone. Using this technique gives you the best risk-reward on your trades
appreciate your effort. great setup for bitcoin traders.
+2 Reply
Trading-Guru ProjectSyndicate
@ProjectSyndicate, No worries! Thanks for the comment
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