minthooka
Long

BTC USD Bitcoin! Follow the trend!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Follow the trend until it bends. I see an inverted head and shoulders . The idea is to take the tip of the head and the tip of the shoulder and double that length. We are also seeing higher highs and higher lows. This thing might slightly retrace and the best bet is to look for a bounce of the ichimoku cloud and buy. I see no divergence yet, so lets follow the upward trend. Thank you!
Maybe you want to consider some bearish arguments I am hearing:

"Since BTC is already in an uptrend the inverted head and shoulder pattern means nothing. But people throw stuff like cups, heads and shoulders on charts because they see them, but they don't necessarily mean anything. I could take any chart and draw heads and shoulder patterns all day, or better yet cup patterns." - @goldbug1

Please see the discussion involving me on @AzrulAzir's chart (she bullish but several people debating against her inverted h&s pattern): https://www.tradingview.com/chart/BTCUSD/ZHsTb8lK-BTCUSD-Inverted-Head-and-Shoulders/#tc809593

And check out more bearish ideas:
@Rakim
@Beastlorion


I cashed out $$$. I don't care if it goes up without me. Praying it will crash and buy back cheaper! $$$$$

Protect yourself!
+1 Reply
goldbug1 mightytrader
@mightytrader, I just posted about BTC. I have a different count then @minthooka, but that does not mean my count is right. EW is still subjective. I have us in the 5th wave of normal cycle and 3rd wave in a larger cycle. I do not put much into RSI indicators but both have turned down which is not bullish. As cryptos are more volatile, I would not use them at all. I do use the 5,8,13 HMA all the time for volatile stocks, and also the 13,26. those are better indicators in my opinion. thanks for mentioning me!
+1 Reply
@goldbug1, I bought LTC at $78 now since BTC going up without me. xD
+1 Reply
minthooka mightytrader
@mightytrader, perhaps, but I did get the $300.0 swing and sold just in time for the Chinese crackdown and filled another $3100.00 buy order. Perhaps the overall daily time frame is still in an uptrend while the hourly is giving a head and shoulders. Perhaps I dont trade head and shoulders and just use it as a guide to determine trend direction on the smaller time frame. Perhaps some people have different opinions. Perhaps I trade trends differently than you. Perhaps it's called an idea. Perhaps you don't have to be a d-bag. Perhaps I win 77.2% of my trades with an average RR ratio of 1.9. Perhaps you shouldn't be so negative. Perhaps you should get a life and stop posting on all of my ideas.
+1 Reply
mightytrader minthooka
@minthooka, Finally! I got you to respond! =D
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mightytrader mightytrader
And a good response too!
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minthooka mightytrader
@mightytrader, troll
+1 Reply
Donations always help :) BTC address: 1NRe8YKANkcntHM8fUmhAt3fkuScATayeB Eth: 0xe47b4ee11b6ada2688cf5cad7e807ec525b9e769
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