At this moment bitcoin is nicely forming it's right shoulder of the inverse h&s pattern and is taking it slowly. If bitcoin is able to complete the right shoulder and i think it will then we could finally see bitcoin passing the 12k resistance and reach for higher positions, although i think we will be testing 12k as a support a few times before we can really build bullish momentum.
I hear a lot of traders telling me that this is not an inverted head and shoulders, like Peter brandt, don't want to bash you but do you know why?
btcbob
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@themomentum, the only thing i see is that there is a head, one shoulder and another shoulder forming. If the forming shoulder will be completed or not i can not tell. There are always different points of view so i will never claim to know what will be next just like i will never discredit other peoples opinion, i just share my thougts and sit back to watch the outcome.
BenCarson
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Agree! I charted this same thing about 3 days ago. So glad its coming to fruition!
btcbob
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@BenCarson, Great to hear Ben! Thanks for comment.
Lit7leBoy
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Still not yet
btcbob
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@Dangle, anything is possible we must watch how it plays out.