ckim802
Long

Fractals Fractals Everywhere (Update)

KRAKEN:XBTUSD   XBT / USD
Update on previous fractal idea. Another inverse head and shoulders pattern has appeared, if completed, this one would take us to the green line.
Comment: Alternatively, going down, the head completes a bit below the first red dotted line and the right shoulder completed at the second one. I don't think so though. The Asians have been hesitant to join in on the recovery, which I think accounts for the low volume. I got my fingers crossed that they are going to join the party.
Comment: One more note before I peace out. I would move over to the sidelines as we get closer to the 12800 number. There's a good chance we'll be retesting the thick red line before bouncing back.
Comment: oh what do you know, the right shoulder completed as I was writing the last comment.
Comment: Bull flag
Trade closed manually: I've closed all positions just in case the algorithm I'm using is correct...
Comment: Sorry about this chart, I didn't know how to update. Please refer to the original Fractals Fractals Everywhere chart for details on how things turned out. I'll be moving on the "Oh Bitcoin, you..." chart for the climb to 13.5k.
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