jimo79
Short

Brace for impact - Bitcoin looks to be completing mirror pattern

POLONIEX:BTCUSDT   Bitcoin / Tether USD
Bitcoin looks to be completing mirror pattern almost identically
Comment: We've continued sideways instead of dipped down as expected. All options still seem in play here because resistance at 11800 has once again held for at least the sixth time. Most likely options are remaining in the sideways channel or completing the head and shoulders decline as the chart setup shows.
Comment: Not following the expected trend path as it wants to remain sideways, but it has been slowing falling from the predicted high point. We may still be heading for sub $10000k but it in a longer timeframe
Comment: This is why TA is not an exact science. Was wrong here with the prediction, but what can be learned? This was simply the prediction if the bearish trend was to continue. That it rejected the trend would give immediate confirmation we were turning bullish which is what eventuated. In all movements we are looking for bullish pattern and a bearish pattern to emerge
What is a mirror pattern?
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jimo79 whoisthelorax
@whoisthelorax, repeats the previous half course but in reverse. Really what I mean is a head and shoulders pattern
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