RE: Bitcoin (BTC) Morning Update: Head & Shoulders Combo

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Bitcoin (BTC) Morning Update: Head & Shoulders Combo

in bitcoin •  7 years ago 

Probably Pattern: I notice a rising wedge on 30min time frame. Notice how the wedge ends at .618 Fib extension which implicates a bearish scenario and coincides with fib extension of wave 2, which only retraced .382. The volume is also declining which supports this pattern. This means a lower low is very likely.

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  ·  7 years ago Reveal Comment

and he only votes on himself!! not you ignorant followers!!
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  ·  7 years ago Reveal Comment

I agree , have exactly the same thing drawn on my chart. However I don't think we are going to get to see an E wave. If it even reaches C target it's I think that will be the peak.

And that is in the case IF we even manage to break the 11.5k - 12k resistance. The volume has been really low today compared to what have we seen in the last few days.

The link below displays a live chart for SHND/Doge trading. I tried analyzing it but I couldn't because the shape is a bit odd. Its hard to see where the triangle starts, if there is any. Your insight is appreciated! Here is the link: https://www.coinexchange.io/market/SHND/DOGE Thank you!!!