Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Hey Guys,
that was a exciting night wasn´t it? This is a further analysis to my last one. Check it out to have the full understanding.
In my opinion this is an amazing chart pattern what u can see here. My old analysis with the H&S was close to get retarded, but this night we had the expecting pump above the 6800 level.
This night we had some maintenances at the exchanges so they generated big spykes to different price levels. The chart on bitmex (provided by tradingview) shows the highest price at 7148. Directly on tradingview, watching the perpetual contract, we had a high at 6683. Kraken just went up to 6916.
In this chart analysis u can see a H&S continuation pattern in turquoise. And directly next to it, u can see a inverse H&S in blue, as a reversal signal. The amazing thing is, the same time we go up to set up the high for the right shoulder, we are finishing to form the left shoulder of our inverse H&S. The next incredible thing is, to finish the right shoulder of our H&S Bearish Continuation Pattern, we need to go to around 5700. And then the breakdown starts with cracking the neckline. That will build our inverse head. A regular fall down should be the same range, like the height of the head from the H&S continuation pattern. That would set a level at around 3600. That´s by the way the level where the big bull run from 21th September 2017 began.
I just drew the head till 4000. That would already be a very big price decreasing. Then we will go back up to the neckline and form the right shoulder. After breaking the neckline of our inverse H&S, everything is set up for the expected bull run, which could bring us to the 10k level.
Also there are some ETF news these days. It´s important to recognize the difference between these ETF applications. Tomorrow will be a decision, but that´s just a Future ETF and not the real one. The "real" one got postponed. I think the rejections/approvals will help the market to move in the right direction at the right moment, to form these perfect chart pattern.
Please don´t hesitate to write a comment if u agree or not. If u enjoy it, like it ;)
Let´s have a look at this idea... 4th of september we went up to 7440. One day later we started to go down again, with the current lowest low at 6181. Right now we are going sideways at 6400.
I would say this idea is still valid and a possible way for Bitcoin to go.
Let´s wait for the next days. Happy Trading!
ConservativeOne1
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Very interesting and certainly plausible...good work
Airwaves
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@georgelpatterson4, Thank you!
vickydaswani
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have a look at this strategy and tell me what do you think, its insane
Airwaves
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@vickydaswani, Thanks for sharing your idea mate. I like your analysis and the MA strategy, but I would always use more different indicators.
blackgold2014
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100% agree with , just fake bounce to due etf news and not going to approve as well , market will go down than before , rich people just made platform to force new investors, next bull run suppose to next year , who knows ??? But i believe when normal investors when start to gave up than bull run we see untill just rich people make money not normal people like me , working in restaurant and get in crpto , bad experience at all untill today but didnt gave up , start to learn lot of here and ready with 10k , when everyone start to panic and start to left crypto world i m going to invest in that time , lets see what i have in future
Airwaves
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@blackgold2014, Sounds good mate. Just go on with crypto even if there are sometimes hard days! Cheers
IasEn
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My expectations are the same.
Airwaves
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@IasEn, Interesting! Thanks for the feedback mate ;)
I would say this idea is still valid and a possible way for Bitcoin to go.
Let´s wait for the next days. Happy Trading!