BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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We might have head and shoulders formation on 4h charts. Neckline is clearly rising on Bitstamp and Btce, so there is definitely bullish bias remaining. Neckline is flatter, but still rising on Huobi. To confirm, we should see price falling down through blue dash line, target price will be around $600 (green dash line). Many oscillators are showing negative divergences, which gives more credence to this formation.

I wonder if anybody is interpreting it this way, too?
I am not sure if it still qualifies as head and shoulders with such asymmetrical shoulders, but price movement prediction was spot on :).
Finally we crossed the neckline, and on high volume. Watching like a hawk now :)
I have a feeling that this fall will be rather limited, based on the trend, RSI for the past 2 weeks.
$619 will probably be where it'll stop before the next bull..
LastBattle LastBattle
Asterix LastBattle
Yeah, it goes very slowly and RSI looks like it maybe coiling for another jump up
Asterix Asterix
I agree with this to while looking at the Bitstamp chart , was thinking of buying in after the rally yesterday :) but the chart disagrees of further rise.
LastBattle LastBattle
further info
Asterix LastBattle
Yeah, it is happening very slowly, but the price is falling. I wonder if we see complete head and shoulders formation, but it does not seem to be good moment to buy yet

Further confirmed by the RSI movement :)
Waiting patiently right now.. its going to be worth it.
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