BPhipps26

BPhipps26

The bearish H&S is forming but could be invalidated with a nice run up if the EW is accurate. From the looks of it, we're in a bullish wave within a wave, here's to hoping it can climb back over the 200 EMA.

BPhipps26

This chart shows 3 possible bearish outcomes completing the falling triangle BTC is currently in the process of forming.

BPhipps26

Things aren't looking the best!

BPhipps26

Using Elliot wave, I've constructed what could be a completed Elliot cycle, and now we're waiting to confirm the bounce into the next wave 1. The RSI on the 4h chart is vastly oversold, so that should help on the next run up, if there is enough buying power. Comments always welcome!!

BPhipps26

Is this considered a H&S!?

BPhipps26 Updated 

The RSI is just nearly overbought, we're at the tip of the ascending wedge and current red candle on the 4 hour. If we see a modest pullback for a day or 2 that would synch it I think and the bounce would send us through 10k.

BPhipps26

The day scale gives a better view of the possible inverted H&S forming.

BPhipps26

Looks to be an inverted H%S pattern forming. Let's hope it leads to the big bull run up everyone and their brothers claim is coming.