Bitcoin Head and Shoulders Pattern

22 בפבר׳ 2018

Price of bitcoin couldn't break past resistance at 11.7k and bounced back to 10.2k earlier today. It is currently completing the right shoulder of the H & S pattern. RSI is oversold on several larger timeframes (I am using the 4HR), and MACD is soon to cross over. I am looking to take profits between 11k and 11.2k and later open up a short. Will be moving mostly into USD at that time aside from my opened shorts.

23 בפבר׳ 2018

הערה

The right hand triangle I drew was a little off, with the left hand triangle actually encompassing the candles closer to its right hand side with a top of around 10.8k, which would have let me draw my right hand triangle more accurately. However, I realized this and took profits at 10.6k.