seeing btc right now i have done a small TA that i think is interesting for everybody. so: 1. on the 2h time line we can clearly see a bearish Head and shoulders pattern that wants btc to lead us back to the 8 - 9k area 2. if we go there that will lead us to a bigger H&S pattern that will lead us back to last 6.4 - 6.8 area (the target where i'll go long 3. big rebounce on this line which follow the support trend of the last lows: 2017/07/15 -> 2017/09/14 -> 2018/02/06 (strong support)
Rsi overbought right now.
I think that this is a really possible scenario that could lead Btc to new ATH. comments are more than welcome (positive and negative)
I think a revisit to the base trend is needed to create confidence in the bottom. I'm not sure I agree with how steep it will come down, or rise again, but I think your principle is sound.
CryptoBroly
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@STEVE.elliott, first post i don't understand how to upload image on comment but look at this: twitter.com/CryptoBroly/status/966623232437686273 -> first chart is the H&s i'm talking about then this H&S will become the head of a bigger H&S the right shoulder of this one should be between 8k (bottom right shoulders) and 9k (top right shoulder) makes more sense ? thx for comment
steve.elliott
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@CryptoBroly, That's now a H&S but its a valid W reversal pattern if it was to form.
Nuno_B_Sousa
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Yeah, BTC/USD remembers 2 tiny points back from mid September and July... :p