Possible inverted H&S structure in the making

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 !

Note

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:

Note

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.

Note

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

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

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Soon be completed. Damn autocorrection on Smartphone XD

Note

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

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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.

Note

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.

SebastianofMoon

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SebastianofMoon

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