Bitcoin Forum

Hi folks,

Some of you may already have noticed, 2 days ago (as of August, 13th) a reversed Head & Shoulders bottom formation has developed. Here the chart (logarithmic):

http://img26.imageshack.us/img26/7094/headshoulders.gif (http://imageshack.us/photo/my-images/26/headshoulders.gif/)

As the chart reveals has the neckline been broken on August 13th and is remaining bullish. Compared with the first shoulder-bottom-to-the-head-length with the second shoulder-low, a target price of around 13,5 USD/BTC can be expected. Imperative: get on the bullrun!

Cheers,
Spekulatius

Not sure if serious?

very professional thick coloured lines, not like a 5 year old kid that found the crayons at all  ;D ;D

He's right.  When an inverse one comes during a downtrend its bullish.

http://www.investopedia.com/university/charts/charts2.asp#axzz1V7ZTFuTu

Matches my assessment also.

Thank you :-*

Drawed u a picture as thanks :D :D

http://img855.imageshack.us/img855/4126/unbenanntox.gif (http://imageshack.us/photo/my-images/855/unbenanntox.gif/)

seems so. but the term heads and Shoulders, just sounded like it was made up.
many people are doing this on the forum. so not sure if serious?

Rejoice! It is real! haha BUY BUY BUY!!

Is that bitcoin creating a golden shower ??

Certainly looks so to me. Perhaps peeing with excitement.

Congratulations Spekulatius you just made it into my gallery.  That last picture is going on the 'fridge.

If you look closely you will see that it is peeing bitcoins.

It's a technical analysis term.  Technical analysis is kind of like astrology, but with securities instead of stars  :)

H&S pattern is a financial trading term on Wall street just like 'dead cat bounce' and dozens of others.
It verbally explains the graph and has been used for decades.

http://www.bespokeinvest.com/thinkbig/2011/8/2/head-and-shoulders-pattern.html

Funny how ignorant people attacked the OP for this... Understanding head and shoulders patterns are a prerequisite to trading 101. Unfortunately, this particular bit of knowledge would have been better if it was stated before the pattern finished. Still a bullish trend though.

Dead cat bounce is also one of my favorite trading terms.  ;)

+1

I think someone has been busy with one of these https://i.imgur.com/oroJ0.jpg

I wasn't attacking the OP about the head and shoulder's pattern I had already saw it, it was just the big crayon lines on the chart I was lightly mocking  :P




http://farm4.static.flickr.com/3503/3894642471_dec42638c3.jpg

"*scribble* *scribble* Check out this diagram folks,  we are clearly bullish! BUY BUY!"


hehe

 :P :P :P

jk settle down

This is a good way to look at it. I have charted this H&S pattern last week in my bitcoin technical analysis report in the subscriber section, and then subsequently given a BUY rating at 8.4 $.

My frog legs and eye of newt still put the price target at over $15 each by end of Aug.

What was your prior sell recommendation?

We shared buy signals i) above 10 $, ii)  above 20 $ in May/June, which were very helpful. The last buy scenario between 13-14 $ was not yielding bug progress, and was followed with a stop loss reco below 12.5-12.8$.
We then gave a buy zone between 5-5.8 $ and prices fell below 12.5-12.8 $ and hit 5.74$ at the low.

We gave sell signals at i) 31.6 $, ii) below 20$ and iii) the last one was below 12.5-12.8$. Those signals were quite useful.

 

Bullish trend due to Head & Shoulders?  I've seen plenty of stocks plummet after that happens and never recover.  First spike is euphoria from the initial investors, second spike is suckers coming in to push up the market, third spike comes from wishful thinking that maybe the price will recover.... before it plummets and becomes a permanent penny stock.

@Cluster2k
H&S or inverted H&S?  Big difference there.  I think you are confusing the two.

it's getting ridiculous if you're only going to talk here about what you have said previously in your subscriber section. spill some beans of upcoming predictions and then you can entice people to subscribe for more, otherwise your 'marketing' is going to work against you imo. 

The original poster is correct, an inverted head-and-shoulders pattern gives a price target based on the largest peak distance to the 'neckline'. Which in this case looks loosely to be somewhere around the $15.00+ area.

Guess we'll see...