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Airwaves
20 aug 2018 19:42

BTC - Is that even possible ?? 

Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Beskrivning

Hello Guys,

this analysis is very daring, however, we need to think about this pattern.

We can see a Head and Shoulders Continuation Pattern. What means that?

We are in a downtrend and a normal H&S confirmes the downtrend. A bearish continuation.

I drew the neckline between the low from the 12th of July and the 14th of August.

The left shoulder has it´s high at around 6868.

The head´s high is at around 8487.

To finish the H&S successfully the high could be at around 7000 (6800-7000) and the low should close at the neckline, a bit below 5800.

Then it could probably break out further down to test lower levels and to continue the bearish trend.

12th 2017 November low 5464
25th 2017 October low 5366
18th 2017 October low 5100
15th 2017 October low 5405
02th 2017 September high 5013

If u agree or u just like the analysis, please leave a like and check me out on Twitter @ CryptoAirwaves.

Thanks!
Kommentarer
cryptovelandia
Bro you're completely wrong lol lol
Airwaves
@cryptovelandia, Why u think so mate?
frothmonsterrr
It looks like one, but it’s not one. There is not such thing as a H&s continuation. H&S is always reversal.

It is not a genuine or valid h&s.. but it could still play out.

I drew the same thing... but only because I know there will be dickheads around the place that chase the formation thinking it comes true, when All it is, is subwaves of the the larger inverted head and shoulders.

What you should do is zoom out and see where the top of the head is that we still travelling down toward.

That is a REAL h&s (reversal) pattern
Airwaves
@frothmonster, Thanks for your input mate! Yes I know, a H&S Continuation is not very common, but it´s possible and should in general be an accepted formation imo. Check my further analysis, maybe u like the Inverse H&S more ;)
frothmonsterrr
@Airwaves, I’ve got this one dawn myself also - people say I’m crazy!
frothmonsterrr
**drawn
Airwaves
@frothmonster, Okay :D
frothmonsterrr
@Airwaves, great minds eh

Let’s see if it comes true.

Been waiting on this ETF rejection to spawn the masses for a throwdown to put it all in motion
Airwaves
@frothmonster, Exactly, let´s see whats happening. Pretty sure we will see a rejection tomorrow.
Mer