Head and shoulders pattern forming most definitively on 1D charts with Litecoin. ~$54.50 seems to be a level which coincides with the Fibonacci levels, making it extremely conspicuous. The Kovach OBV indicates long term positive momentum, whereas the Kovach Chande indicator has turned negative confirming a pullback is near. The Fibonacci time zones indicate the time is nigh for the aforementioned retracement.
In general cryptocurrencies have been on a tear this past year, so any pullback should be looked upon as a buying opportunity.
If you are interested in the Kovach Momentum indicators and Kovach Reversal indicator, check out quantguy.net
Head and Shoulders Pattern is already complete!! Don't understand your point in "Shorting" this.
quantguy
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@JoeFares, the Head and Shoulders neckline may have a slope, and once the pattern is complete a breakdown may be expected through the neckline. Long term, I'm very bullish for Bitcoin, I was just hoping to see a retracement short term so I could add to the position.
atricoz
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H&S forming in uptrend line? Also, shouldn't the right shoulder be lower than left one?
quantguy
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@atricoz, yes, the Head and Shoulders neckline may have a slope