Heads, Shoulders, Double Tops, Bears, Bitcoin, WOW!
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Welcome to all 5 of my followers and all of you soon to be followers to my updated analysis on Bitcoin! If you saw my analysis from earlier today, which you probably didn't, you'll see that no more than an hour after my hypothetical head and shoulders post, we got confirmation followed by a drop to the exact target of the head and shoulders. WOW! People say TA doesn't account for FUD and FOMO and News, it sure can predict some price action and targets! WOW!
I've been watching and digging into this chart all day because I am fascinated by all of this, and because I'm tryna make some money here. The more I look, the more I uncover, and the more I get excited about these POSSIBLE scenarios. I do my own research and come up with my own scenarios, and you should do the same. NEVER make a trade based off of one of my charts. Let's get down to business....
1.) Dark red line - my (now confirmed) neckline from the head and shoulders i predicted this morning. Formed, confirmed, hit target and bounced back up. Conclusion: BEARISH - WOW!
2.) Dark Blue Solid line - NEWLY discovered head and shoulders pattern that was also confirmed today. Can be invalidated at any time by a close back above the neckline... You ready for this? The target of this head and shoulders pattern falls exactly on the 78.6% Retrace line -~7250.00 - Conclusion: BEARISH - WOW!
3.) Black Dashed Trendline - Trendline coming down from the ATH... now been poked more than a cute girl on facebook. I don't have a ton of faith that this line will hold up if it keeps getting tested. Its trending downwards anyways - Conclusion: Neautral
The following are hypotheticals, one even fairly bold of me to predict I might say... If either are confirmed however... BEARISH! WOW!
1.) Horizontal Light Blue Dashed Line - A close below this line would confirm a double top. BEARISH! WOW!
WILD PREDICTION FOR FUN: Solid Black Downward Sloping Line - Don't hold me to this, or anything I've said here, but if this particular pattern plays out I'll probably be getting a call from Bobby Axlerod to come join his hedge fund.
Here we go... we get not 1, not 2, but THREE head and shoulders patterns in a single analysis. WOW! Keep in mind for this one that we don't even have a right shoulder yet. If this shoulder forms... it then has to close below BOTH the downward trendline from ATH and the HYPOTHETICAL Neckline. If this were to HYPOTHETICALLY happen in around three days or so, where would that head and shoulders target be at?? No way! The 78.6% Retrace right around 7250. What!?!?!?! WOW!!!!
All those wows wiped me out. Not much else to say hear other than this is hypothetical and can be invalidated AT ANY TIME! I see lots of bearishness and not much bullishness. DO YOUR OWN RESEARCH! WOW!
Welcome to all 5 of my followers and all of you soon to be followers to my updated analysis on Bitcoin! If you saw my analysis from earlier today, which you probably didn't, you'll see that no more than an hour after my hypothetical head and shoulders post, we got confirmation followed by a drop to the exact target of the head and shoulders. WOW! People say TA doesn't account for FUD and FOMO and News, it sure can predict some price action and targets! WOW!
I've been watching and digging into this chart all day because I am fascinated by all of this, and because I'm tryna make some money here. The more I look, the more I uncover, and the more I get excited about these POSSIBLE scenarios. I do my own research and come up with my own scenarios, and you should do the same. NEVER make a trade based off of one of my charts. Let's get down to business....
1.) Dark red line - my (now confirmed) neckline from the head and shoulders i predicted this morning. Formed, confirmed, hit target and bounced back up. Conclusion: BEARISH - WOW!
2.) Dark Blue Solid line - NEWLY discovered head and shoulders pattern that was also confirmed today. Can be invalidated at any time by a close back above the neckline... You ready for this? The target of this head and shoulders pattern falls exactly on the 78.6% Retrace line -~7250.00 - Conclusion: BEARISH - WOW!
3.) Black Dashed Trendline - Trendline coming down from the ATH... now been poked more than a cute girl on facebook. I don't have a ton of faith that this line will hold up if it keeps getting tested. Its trending downwards anyways - Conclusion: Neautral
The following are hypotheticals, one even fairly bold of me to predict I might say... If either are confirmed however... BEARISH! WOW!
1.) Horizontal Light Blue Dashed Line - A close below this line would confirm a double top. BEARISH! WOW!
WILD PREDICTION FOR FUN: Solid Black Downward Sloping Line - Don't hold me to this, or anything I've said here, but if this particular pattern plays out I'll probably be getting a call from Bobby Axlerod to come join his hedge fund.
Here we go... we get not 1, not 2, but THREE head and shoulders patterns in a single analysis. WOW! Keep in mind for this one that we don't even have a right shoulder yet. If this shoulder forms... it then has to close below BOTH the downward trendline from ATH and the HYPOTHETICAL Neckline. If this were to HYPOTHETICALLY happen in around three days or so, where would that head and shoulders target be at?? No way! The 78.6% Retrace right around 7250. What!?!?!?! WOW!!!!
All those wows wiped me out. Not much else to say hear other than this is hypothetical and can be invalidated AT ANY TIME! I see lots of bearishness and not much bullishness. DO YOUR OWN RESEARCH! WOW!
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