TristanKhanizadeh
Short

BTC head and shoulders (UPDATE)

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
So ive been watching this pattern develop for a few days now. It successfully broke out of the falling wedge (black lines) and went on to form the right shoulder (although it was slightly more extended than i anticipated and went to hit resistance at 12k one more time. Still very bearish on this signal and rather confident it will test lower support levels.
Comment: moment of truth, will it break down finally or will it bounce?
is it a bounce?
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@grechkaman, is what a bounce? where? be more specific
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grechkaman TristanKhanizadeh
@TristanKhanizadeh, oh, i mean the Head and Shoulders - it looks like it breaks a neck line but go side, bounce from 11100? or it still aimed to go down?
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the time 8500 at least
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