veryevilone

Head & Shoulders, Bearflag, RIP

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
My apologies for the bad title but i just wanted to share this idea quickly :) The chart is pretty self explanatory. bearflag on the daily, one last push to $10k, paint the right shoulder, break down, and complete the bearflag. RIP bitcoin             :)
Comment: We might not even see a complete right shoulder before it breaks down, meaning not even gonna test $10k. Here is how another HS completed: Note that the right shoulder barely managed to form before people got the fuck out of dodge.
Comment: Got that early breakdown, now im thinking we might get a fast bounce and an actual attempt at $10k. But lets see.
Comment: Bitcoin is trying to establish wether $8k is support or not. I suspect this will go on for a few days. If indeed it is support, there is an emerging Pitchfork which will be interesting to keep an eye on.
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great observation on the unpainted shoulder
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BULLISHT...........??
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