SecludedJ

Looking All To Familiar and Missing A Key Component

BITSTAMP:BTCUSD   比特幣 / 美元
310 6 13
Looking back at Bitcoin's behavior, we can see a clear missing element if this thing is going to go "moon" or to $6200 or whatever number people want to project.

This is really shaping out to look a lot like the first stage of the correction we had over the summer when you compare the purple boxes with some slight differences in volume and shape due to FUD.

But, we haven't done an important step yet.

The main argument I'm making here is... Where is the back test of that inverse head and shoulders? Or, if we want to say that isn't an inverse head and shoulders , then where is the back test of the channel break out?

We haven't had it yet.
Because it isn't an inverse head and shoulders. It's an Adam and Eve bottom which should be retested at 4100, (which it was).
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@filbfilb, I see your point though but I don't really consider anything other than a horizontal bottom pattern being a legitimate bottom pattern
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@filbfilb, Based on examples I have looked up, this does not look like an Adam and Eve.

In addition, I do not see a retest of $4100 like you are mentioning, as there is nowhere where it comes down and bounces off of $4100... it only plows through it to $4025.
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filbfilb PRO SecludedJ
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@filbfilb Wouldn't the top of the Adam and Eve be 4118, which it broke on the retest down to 4024?



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