Going up (almost fully completed formations) 1st green line = 1st inverse head and shoulders completion 2nd green line = 2nd formation 3rd = Whoohoo 14k
Going down (only half completed formations) 1st = completion of head of head and shoulders, retest would bring to completion 2nd = completion of head, retest... 3rd = pack it up, we're going down to 6k
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First green line has been breached. We're probably going to go sideways for a bit in that wedge. But, I wouldn't count out Bitcoin breaching the second green line much sooner. Last year's bull run has provided significantly greater access to cryptos, bitcoin especially. Those people might have called it a day with the crash, but their desire to make a buck never went away, nor their access to exchanges. The lack of credit card access in fiat exchanges will reign back what would have otherwise been a firestorm. Which, when you think about it, seems to have been a bit planned out...
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A note on the evening star, should some version of it appear. The formation isn't simply one candlestick but a viewing of 3, in their totality. The second candlestick 'star' is only such if the third red candlestick over encompasses the first green candlestick, as in it comes below it.
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Oh man, this is just awesome, we've breached the 2nd green line. And the candlesticks themselves are a big bull sign, when the closing of one candle stick is at or higher than the opening of the second one.
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reverse that
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when opening of second candlestick is at or higher than the closing of the first.
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We have lift off to the solid green line. I think it will go about 100$ above before coming back to retest.
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Ummmm.... my algorithm is telling me to sell... 89.91% of trades are profitable, at least on paper, so take that as you will....
Trade closed manually
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I've closed all positions, just in case.
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Re-entered, bulls are clawing back.
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Just to give an idea of how things might play out. XMR completed the inverse head and shoulders already.
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where the yellow dotted lines intersect.
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A view from the 4 hour - for an easier perspective. We're just on a red dotted line escalator to the green line.
Trade closed manually
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In my opinion, there is no longer a direct route to the dark green line. I've included 2 possible scenarios in this 4-hour view. Green is optimistic (~2-4AM EST), Yellow is more realistic (Monday). Below the yellow, it's time to enter short positions if you're able.
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Alternative to the alternative
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I made a quick buck on my short and am back in. I'm just going to ride out the rest. After bitcoin has it's breakout above the thick green line, I'm moving on to the alts, as they will start taking turns doing the same. But here's a little gift for whoever's been reading my posts.
My bitcoin roadmap for the rest of 2018:
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PSA:
Bear flag developing on the 15min Evening star developing on the 4hr
Developing, not completed.
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The would-be evening star has developed into a bullish hammer on the 4hr.
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Morning star developing on the 15min. The third candle only has to come up to above half the length of the first one.
Developing not completed.
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The wait is excruciating... should the red line be breached, the second red line offers a third chance to break 1500, and a shot at the solid green line by Monday.
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Eta for solid green line is between 3-7am EST. Then pretty clear shot up to 12800. After that a minor correction then 14k. If I turn out to be right, follow me por favor :)
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4hr view
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Price is about to collide with the second dotted line of my original chart. If it does not bounce back, I will close the position and take the loss.
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$11075 - $11100 is the final line in the sand
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It's starting back up, however, it has not actually hit the dotted red line. I expect the price to almost touch it, if not slightly pierce the line, then re-test it a short-time later, before completing the bounce.
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The touch should be somewhere around 1400.
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argh, 11400
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A bit of a juncture on the 5 min chart, move past the green line completes inverse head and shoulders, movement below the red line completes head and shoulders...
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the chart on the right
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below the yellow line, not red
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We have lift off. As I'm writing this, the first dotted blue line is about to be breached. The second should be easy peasy. But we can possibly re-test the dotted green line several times before breaking through it.
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I think it will hit at or about the intersection between the red dotted line and the solid green line, then pull back. This is because we still have really low volume, and the bulls haven't shown force-en-mass. A pullback to the dotted green line or the red dotted line we just tested is possible. Although a straight run through is possible as well. My money is on a retesting of the dotted red line, before bouncing back.
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unless we get slapped back by the dotted green line, which appears to be happening. But it would still be the same trajectory. If we bounce off the dotted green line now, the retest of the dotted red line is going to be a time to watch the price closely as it provides the bears another opportunity. Should we be on the way to test the dotted red line a third time, I will manually close positions and sit it out until the solid green line has been breached. Price will drop like a rock if the dotted red line is breached.
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last two comments pertain to the 15min view of the initial chart. The 4hr view has lines of a different fractal pattern, but you can see that you could basically overlay on top of each other and get the same results.
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So I cleaned up some of the lines on my bitcoin roadmap chart and there is a clear point of intersection between the resistance lines and the dotted green line... obviously, there's two interpretations of this if the timing works out as shown. 1st Bitcoin breaks free of its chains... or 2nd the resistance lines join forces to become even stronger. I'm really scared that it will be the latter, so I will be preparing as we get closer to that point (again, if the timing works out that way), as if the second interpretation will take place.
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We're about to break through the dotted green line by the looks of my 15min chart. Bull Flag appearing.
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As you can see on the initial 15min chart, this is our third time testing the line (while coming up). Third times the charm :)
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A pole for a bull flag has formed on the 1hr. The pendant should be created right inside the triangle wedge formed by the two blue lines.
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not to state the obvious, but basically, every single crypto is forming or has formed some sort of bull flag...
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fractal head and shoulders formations have broken down at the 5min scale. No way to get a proper neckline to form. On the 15min scale, we are almost at the point of completing the first head and shoulders bear formation.
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For the inverse head and shoulders formation to complete instead, we cannot go below 11380 AND we would have to see a climb up to 11600 in the next hour or two.
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I'll add a note that might not be well received here. I noticed that the head and shoulders fractal formations basically broke down at some point after 9pm last night. It made for an easy night of sleep. We are starting to see the same phenomenon in reverse... It may be difficult to cross the finishline.
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For those of you following the Bitcoin 2018 roadmap chart. 11600 is just one point in the second dotted blue line that we have to cross to reach the solid green line.
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We're finishing this thing off right now. It will be very swift.
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Am I good or what :)
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We're about to break through the dotted green line in the initial chart so I'm going to say this chart is now closed and that it was accurate. Thanks for following along. I'll be moving on the "Oh Bitcoin, you @#$%..." chart for the climb up to 13.5k.
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Looking at this chart in retrospect, I should have seen the dip coming... oops