i see this phrase thrown around every few days. then nothing much happens. how many times in the past has a predicted one actually come true?
The problem is, the appearance can be there, but the actual action and volume doesn't match so it was never actually a cup and handle or head and shoulders or inverse batman... A true C&H of that size will have many months of sideways to down movement just to form the handle. Volume profiles would have to be adhered to also. After all that, there is still only a 40-60% chance it will fully play out. It is well known in Bitcoin that H&S will get false breakouts just to play fools before it reverses on them and ultimately deems it "not actually a H&S/C&H". They are really the least reliable patterns in Bitcoin, and can only be confirmed once complete. Then, it's too late to trade anyway.
A week or so ago there was a thread that someone predicted imminent breakout of a H&S. Well, it did break above the neckline and fulfilled about 10% of the target move before reversing and falling back below support. This is the false break out I meant. It was not a H&S because it didn't get anywhere near the target. I suspect this will be a similar result if it even gets to test the 2013 high to make the neckline.
