BTC: Head & Shoulders = Incoming Drop?

2018年11月27日

I have just spotted what looks like a head and shoulders pattern on the hourly chart for Bitcoin. Correct me if I'm wrong, but if it is, this could signal a sudden drop about to occur.

2018年11月27日

註釋

I have since learned that it's NOT a head and shoulders because it hasn't broken the neckline yet so forget this whole post, unless it breaks it.

2018年11月27日

註釋

IF it does break the neckline, we are looking at an appropriate $400 drop to around the $4,200 level. Why? Because that's the appropriate distance between the neckline and the top of the head.

2018年11月27日

註釋

$4,200? No. $3,200. I blame the volatility and lack of caffeine in my blood.