Possible inverted H&S structure in the making

21 dic 2018

This could catapult BTC back into the 5000s, for a time at least.

Then we'll see some sideways creeping, and a longer flat, stable period of weeks, until BTC will make the final dump, sometime in March-April,
the low still remains at 2000 plusminus a few hundred imho.

I could of course be wrong, but that is the general feeling I have.
Weekly timeframe also points to this as well.

Good luck !

24 dic 2018

Nota

Stron breakout of the wedge that was forming the last days.

This could go straight through the 0.382 fib resistance at 4460 USD.

If it does, we could see a brutal and fast pump straight into the 5000 range.
The maximum of this whole move could go as high as 5800.

A really nice christmas rally indeed after these brutal weeks :)

Here my current view:

24 dic 2018

Nota

Well that pump was weaker than expected. Probability for blue line, the inverted H&S structure, dramatically increased again.
Plus bearish divergence in RSI and MACD in the 4h chart:



I expect a fake rally to 4480 on bitfinex, the 0.382 fib resistance, then dump to 3700-3800 finex price, to complete the inverted H&S structure.

27 dic 2018

Nota

Still on track. It might dump a bit more, to 3650 on finex, but the pumping should start within the next few days.

28 dic 2018

Nota

It is beginning. Structure will Sion ne completed. Target at least 4800.

28 dic 2018

Nota

Soon be completed. Damn autocorrection on Smartphone XD

1 gen 2019

Nota

Well, time is running out for the inverted H&S pattern. BTC looking really weak. What a start into 2019 :/

3 gen 2019

Nota

Well if BTC won't bounce at least into the low 5000s, we will see some very ugly lows in 2019, even into 2020, with a long lasting, insane bearmarket. So let's hope that BTC finally gets a kick in the ass, and starts moving upwards. I am amazed how weak BTC actually is.

9 gen 2019

Nota

So, it's time to update this chart again. The first inverted H&S failed, now some kind of cup and handle or larger inverted H&S can be interpreted into the 1d chart. However, the fact that BTC is taking so long for this and is doin weird stuff, makes me think that we'll see a drop instead. Also the long/short ration on finex is becoming strongly inclined towards longs. Often a sign for dumps.