Nickonomics

Bitcoin (BTC): Massive H&S Bottom

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Inverse H&S pattern is emerging on Bitcoin chart. To my mind, this is the most probable bullish scenario. 7100 is the invalidation level.
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Трансляция живой торговли в закрытом чате.

Comments

You were spot on the money last time, when you predicted reversal around 7260, let's see how this pans out :) Thank you for all your input!
+4 Reply
Inverse H&S at work.
+1 Reply
You mean this is an inverse hs? this is a good sign however.
+1 Reply
From the stock exchange there are two traders, one in shorts, the other completely naked. Naked says that in shorts:
"This is Vasya, for which I respect you, you can stop in time."
+1 Reply
your Elliott waves on the other hand are rubbish..
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could be, but it's not the nicest H&S ... if you draw your rising wedge bigger, we're in a larger rising wedge atm. just hoping this is a bullflag and breaks out above the high of May 24 or 7700
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I told you
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I think this one might be of interest to you.
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@rafbie, The only problem I see with that is..everything I've read about a symmetrical triangle show that the odds are it will be a continuation of the current trend line. I've read everything from 75% (continuation) to most recently a tweet from Peter Brandt stating something like 67% (I think). I see the same pattern, and really appreciate your optimism, but I'm a bit more of a skeptic myself.
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