JonRulz

Bitcoin: The end of the correction?! Head and Shoulders Pattern!

BITTREX:BTCUSDT   Bitcoin / Tether
As we can see on the bitcoin -3.37% chart, a possible head and shoulder pattern could be at play. The MACD has crossed and there is a nice divergence I marked on the chart. These are bullish signs. However, yesterday ended on an indecisive candle stick. This means if BTC -3.37% ends on a red day, there could be some more red days. Right now it's to early to tell where BTC -3.37% will head short term. If it breaks this head and shoulder pattern and retests and stays above, I would consider that a good entry, if BTC -3.37% ends on a red day today, I would wait around for a bit.

Comment: Broke above neck line, a retest of the neckline will confirm further movement upward.

Comment: Close to my 2nd target around $11,200
Comment: $11,000 - $11,500 are good levels to take some profit. Sell your short term positions soon.
Trade closed: target reached: It hit our target exactly. Another run could pop it to the red downtrend line, but I think that's less likely. I expect a pull back around 9.5k to 10k. Next target is between 12k - 12.5k
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