BITSTAMP:BTCUSD   Bitcoin / Dollar
Pair is creating lower lows and lower highs in an A-B-C-D-E Pattern.
Take Profit is still previous swing low.
Kommentar: There is a possible triple bottom support level at 12K that can be the 1st take profit.

Kommentar: ENTRY POINT SHORT - There is a 12K double bottom support level that can be my 1st Take Profit area. I have drawn an ascending trendline that when a Break-Hook_Go pattern on the 15m chart develops I will enter with a triple bottom retest as my TP. Price may continue bearish from there to the "e" point support level as my 2nd Take Profit.
looks good to me. Thanks!
It's taking it's time to build the shoulder so far... When it hits 14,000 the inverse Head and Shoulders will be confirmed and most likely it will pick up pace back up in the direction through 20k.
If it keeps up from here (at 13,200-13,300), I'm seeing an inverted Head & Shoulders forming that would signal the bottom is in and a reversal back up for a New Year's rally. That's what it appears to be doing at this point. Ofcourse, it may decide to retest the lows first to bounce back up off of. Who knows.
@Inspirar, Great observation
+1 Antworten
@ghose12, :>)
ghose12 Tradingstrategyguides
@Tradingstrategyguides, i saw the patterns jut now indicating 12k strong support...if broke then only 10k..nor uptrnd can take ..if we come to 10k then we will have rocket launch speed nor gumy bumpy rise and people have seen nasty drop they will get panic with even 2k difference in drops...
@ghose12, Great comment, thanks.
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