Bitcoin Forum
October 26, 2021, 01:05:57 PM *
News: Latest Bitcoin Core release: 22.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: btc head and shoulders?  (Read 549 times)
somac.
Hero Member
*****
Offline Offline

Activity: 1469
Merit: 645

Never selling, even for massive profits.


View Profile
June 18, 2017, 07:43:41 AM
 #1

FYI

I was just having a look at the 4hr btc chart on bitcoinwisdom and noticed what could be a head and shoulders pattern forming. We would currently be on the right shoulder.

I fucking hope that it is not, as I want to see this baby continue its rise, however, with the massive rise we have had I think it is possible. If a text book head and shoulders does happen that would put the price back to around the 1300, seems unlikely.

1635253557
Hero Member
*
Offline Offline

Posts: 1635253557

View Profile Personal Message (Offline)

Ignore
1635253557
Reply with quote  #2

1635253557
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Fortify
Legendary
*
Offline Offline

Activity: 1736
Merit: 1056



View Profile
June 18, 2017, 11:25:14 AM
 #2

Bitcoin has been so volatile and unpredictable in comparison to other investments - it's hard to read the current position. Historical boom and bust patterns means it is likely to come back down short term. Eventually the wave of hype in the current price might subside and people will want off the boat when the price starts sinking. It depends, if more governments start building a legal framework around bitcoin it could gain even more traction.

███████████████████████████
███████████████████████████
██▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█████████
████████████▀▀       ▀▀████
█████▀▀▀▀▀▀             ███
██████████    ▄█████▄    ██
██████████    ███████    ██
██████████    ▀█████▀    ██
█████▄▄▄▄▄▄             ███
████████████▄▄       ▄▄████
██▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄█████████
███████████████████████████
███████████████████████████
.
●/
●/
●/
SLOTS
GAME SHOW
LIVE CASINO
●/
●/
ROULETTE
BLACKJACK
▄▄▄▄▄▄▄▄▄▄ ▄▄ ▄
|████████████████████████
.
ROLLBOXES
.
████████████████████████
|
   BONUS BATTLES   
.....WINNER TAKES ALL.....
TWITTER     |     DISCORD
..PLAY NOW..
davis196
Hero Member
*****
Offline Offline

Activity: 2044
Merit: 661



View Profile
June 18, 2017, 12:11:40 PM
 #3

FYI

I was just having a look at the 4hr btc chart on bitcoinwisdom and noticed what could be a head and shoulders pattern forming. We would currently be on the right shoulder.

I fucking hope that it is not, as I want to see this baby continue its rise, however, with the massive rise we have had I think it is possible. If a text book head and shoulders does happen that would put the price back to around the 1300, seems unlikely.



If this is a "head and shoulders" pattern and "the head" is 2600+ USD price, why would we be on the "right shoulder"?Right now the btc price is around 2555 USD.If the price drops to 1700 USD i would say that you are right ,but there`s no reason for such a price drop.
The btc growth is sustainable and not a result of hype.
Only some hardfork during the summer can cause cuch price fall.




▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄    ▄▄▄▄                  ▄▄▄   ▄▄▄▄▄        ▄▄▄▄▄   ▄▄▄▄▄▄▄▄▄▄▄▄    ▄▄▄▄▄▄▄▄▄▄▄▄▄▄   ▄▄▄▄▄▄▄▄▄▄▄▄▄▄   ▄▄▄▄▄▄▄▄▄▄▄
 ▀████████████████▄  ████                 █████   ▀████▄    ▄████▀  ▄██████████████   ████████████▀  ▄█████████████▀  ▄█████████████▄
              ▀████  ████               ▄███▀███▄   ▀████▄▄████▀               ████   ████                ████                   ▀████
   ▄▄▄▄▄▄▄▄▄▄▄█████  ████              ████   ████    ▀██████▀      ██████████████▄   ████████████▀       ████       ▄▄▄▄▄▄▄▄▄▄▄▄████▀
   ██████████████▀   ████            ▄███▀     ▀███▄    ████        ████        ████  ████                ████       ██████████████▀
   ████              ████████████▀  ████   ██████████   ████        ████████████████  █████████████▀      ████       ████      ▀████▄
   ▀▀▀▀              ▀▀▀▀▀▀▀▀▀▀▀   ▀▀▀▀   ▀▀▀▀▀▀▀▀▀▀▀▀  ▀▀▀▀        ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀   ▀▀▀▀▀▀▀▀▀▀▀▀        ▀▀▀▀       ▀▀▀▀        ▀▀▀▀▀

#1 CRYPTO CASINO & SPORTSBOOK
▄▄▀▀▀▀▀▀▀▀▀▄▄
▄█▀▄▄▀▀█▀▀▀█▀▀▄▄▀█▄
▄█▀▄▀▀█ ▄█▄▄▄█▄ █▀▀▄▀█▄
▄▀▄██▄▄▀▀▄▄ ▀▄▄▀▀▄▄██▄▀▄
▄█ ████ ███▌▐███ ████ █▄
█ ████ ████ ███ ████ ████ █
█ ████ ███ ▄▄▄▄▄ ███ ████ █
█ ████ █▀▄█▀▀▀▀▀█▄▀█ ████ █
▀█ ████ ██ ▄▀▀▀▄ ██ ████ █▀
▀▄▀██▀█▄▄ ▀▀▀▀▀ ▄▄█▀██▀▄▀
▀█▄▀█▄▄▀▀█████▀▀▄▄█▀▄█▀
▀█▄▀▀██▄▄▄▄▄██▀▀▄█▀
▀▀▄▄▄▄▄▄▄▄▄▀▀
OFFICIAL
BETTING
PARTNER
.INSTANT & FAST..
.TRANSACTION.....
.PROVABLY FAIR..
......& SECURE......
.24/7 CUSTOMER.
.............SUPPORT.
BTC      |      ETH      |      LTC      |      XRP      |      XMR      |      BNB      |     more
maku
Legendary
*
Offline Offline

Activity: 1288
Merit: 1000



View Profile
June 18, 2017, 12:25:18 PM
 #4

I am not convinced that standard market evaluation and indicators are the way to predict bitcoin's price movement.
Spotting head and shoulders trend is actually helping to understand price movement and set your trading strategy, but:

- it will not work all the time.
- target profit might never be hit
- and last by t not least, this pattern is very subjective to spot, some traders can see it some not.
eaLiTy
Hero Member
*****
Offline Offline

Activity: 2002
Merit: 846


Have Fun )@@( Stay Safe


View Profile
June 18, 2017, 12:43:38 PM
 #5

I am not convinced that standard market evaluation and indicators are the way to predict bitcoin's price movement.
Spotting head and shoulders trend is actually helping to understand price movement and set your trading strategy, but:
- it will not work all the time.
- target profit might never be hit
That is the case with bitcoin and other crypto currencies ,the standard chart reading and the indicators might not work with bitcoin since it is pretty difficult to predict exactly what is happening at a given time,the best practice would be to look at the buy and sell column to understand the trend and take your decision.  Grin

███████████████████████████
█████████▀▄▄▄▄▄██▀▀████████
█████▀▄█▀▀▄▄▄▄▄▄▄▀▀▄▄▀█████
████ █▀▄███████████▄▀██████
███▄█ ███████▀ ██████ █ ███
██▀█ ███  ▀▀█  ▀██████ █ ██
██ █ ████▄▄      ▀▀▀██ █ ██
██ █ █████▌        ▄██ ████
███▄█ █████▄▄   ▄▄███ █▀███
████▀█▄▀█████▌  ▀██▀▄█ ████
█████▄▀▀▄▄▀▀▀▀   ▄▄█▀▄█████
████████▄██▀▀▀▀▀▀██████████
███████████████████████████
.
█ █▀█ █▀█ █▀█  ▄  ▄▀▀ █   ▄▀█ ▀█▀ ▄▀▀ ▄███▄
█ █▀█ █ █ █ █ ▀█▀ ▀▀█ █   █ █  █  ▀▀█ ▀███▀
█ █▄█ █▄█ █▄█     ▄▄▀ ▀▄▄ █▄▀  █  ▄▄▀   
                                        █
████████████████████████████████████ 
███▀▀▀▀▀▀██████▀▀▀▀▀▀██████▀▀▀▀▀▀███ 
█▀▄██▀███▄▀██▀▄██▀███▄▀██▀▄██▀███▄▀████▄
█ █ ▀ ▀███ ██ █ ▀ ▀███ ██ █ ▀ ▀███ █████
█ ██    ▄█ ██ ██    ▄█ ██ ██    ▄█ █████
█▄▀██  ▀█▀▄██▄▀██  ▀█▀▄██▄▀██  ▀█▀▄████▀
███▄▄▄▄▄▄██████▄▄▄▄▄▄██████▄▄▄▄▄▄███
████████████████████████████████████
CRYPTO'S FASTEST
GROWING CASINO

‎ ★
█▄             ▄█
██▄         ▄██
▐█████████████████▌
█████████████████

▄█████████████████▄
▀▀
▄▄▄▄    ▄▄▄▄   ▀▀
▀███▀  ▄████▀  ▄██▀

▄▄   ▀█████  ▀▀▄▄
██████████████████
████▀▀▀▀▀▀▀▀▀▀▀▀█████
██████▄▄▄▄▄▄▄▄███████
▀███████████████▀
▀▀██████████▀▀
▄▄█████████▄▄
▄█▀▀  ▀▀███▀▀  ▀▀█▄
▄█▀        █        ██▄
▄█          █         ██▄
▄███       ▄███▄       ███▄
███▀▀█▄▄▄▄███████▄▄▄▄█▀▀███
█▀      ▀█████████▀      ▀█
█        █████████        █
▀█       █████████       █▀
▀█     ▄█       █▄     █▀
▀██████         ██████▀
▀████▄       ▄████▀
▄▄▄█████▀▀███▄▄▄▄▄███▀▀█████▄▄▄
★ ‎
‎ ★
..PLAY NOW..
somac.
Hero Member
*****
Offline Offline

Activity: 1469
Merit: 645

Never selling, even for massive profits.


View Profile
June 18, 2017, 12:54:28 PM
 #6

If this is a "head and shoulders" pattern and "the head" is 2600+ USD price, why would we be on the "right shoulder"?Right now the btc price is around 2555 USD.If the price drops to 1700 USD i would say that you are right ,but there`s no reason for such a price drop.
The btc growth is sustainable and not a result of hype.
Only some hardfork during the summer can cause cuch price fall.

by looking at the chart (4hr, bitstamp) left shoulder peaked at 2760, head at 2980, and if we are actually on a H&S pattern the recent peak of roughly 2670 could be the right shoulder. Im not saying it is a H&S pattern, but, it has that look about it.

I hope it is not and I personally don't want it to drop below 1700 that's for sure. Just thought I'd point it out to people. Also looking at the 2 lows and drawing a line on them (which would represent the neckline), a substantial break of 2200 would confirm the pattern as H&S.

I am not convinced that standard market evaluation and indicators are the way to predict bitcoin's price movement.
Spotting head and shoulders trend is actually helping to understand price movement and set your trading strategy, but:

- it will not work all the time.
- target profit might never be hit
- and last by t not least, this pattern is very subjective to spot, some traders can see it some not.


Agree with everything you say, just wanted to point it out.
YuginKadoya
Legendary
*
Offline Offline

Activity: 2212
Merit: 1042


"Crypto Casino & Sportsbook"


View Profile
June 18, 2017, 01:46:22 PM
 #7

FYI

I was just having a look at the 4hr btc chart on bitcoinwisdom and noticed what could be a head and shoulders pattern forming. We would currently be on the right shoulder.

I fucking hope that it is not, as I want to see this baby continue its rise, however, with the massive rise we have had I think it is possible. If a text book head and shoulders does happen that would put the price back to around the 1300, seems unlikely.



After hearing your thoughts now I want to shampoo bitcoin from head up to the shoulder, just like all of the people are saying here that bitcoin is very unpredictable at times, I thought that we can surely reach the $3000 mark value, but I think many have been very doubtful right now to where the price of bitcoin will surely make because of the impending changes that may happen in August 1 many would just want to convert to other coins, if not sell bitcoin and convert it to Fiat, literally quitting bitcoin, many are at risk of their investment with the impending Forks that the Big blockers wants to implement.


██████████████████████████████████████████████████████████████████████
████████▀▀▀        ▀▀█████████████████████████████████████████████████
██████▀    ▄▄▄▄▄▄▄▄    ███████████████████████████████████████████████
█████    ▄█████████▌   ▐█████▀  ▐███████████████▌  ▀██████████████████
████▌   ▐██████████    █████    ████████████████    ██████████████████
████▌   ▐█████████▄▄▄▄█████▌   ▐███████████████▌   ▐███▀▀█████████████
█████    ▀███████████████▀▀        ▄███████████    ██▀   ▐████████████
██████▄     ▀▀███████▀▀         ▄▄███▀▀▀▀█████▌   ▐▀   ▄███▀▀   ▀█████
█████████▄▄     ▀▀███▄  ▄▄    ████▀    ▄   ███       ▄███▀   ▄█  ▐████
█████████████▄▄     ▀████▌   ▐███▀   ███   ██▌      ████    ██▀  █████
██████▀▀   ▀█████▄    ███    ████   ███▌  ▐██    ▌  ▐██▌      ▄▄██████
█████    ▄████████    ▐██    ██▀▀   ██▀   ▐▀    ▐█   ██▌   ▀██▀▀  ████
████▌   ▐████████▀    ███▄     ▄▄▄     ▄    ▄   ▐██   ██▄      ▄▄█████
████▌   ███████▀    ▄███████████████████████████████▄  ▀▀██████▀▀ ████
█████    ▀▀▀▀     ▄█████████▀    ▀█▀    ▀█       ▀████▄▄         ▄████
██████▄▄    ▄▄▄▄████████████  █████  ██  █  █  █  ████████████████████
█████████████████████████  █▄    ▄█▄    ▄█  █  █  ████████████████████
██████████████████████████████████████████████████████████████████████
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█  ▄▀▄             █▀▀▐▀▄▄
█  █▀█             █  ▐  ▐▌
█       ▄██▄       █  ▌  █
█     ▄██████▄     █  ▌ ▐▌
█    ██████████    █ ▐  █
█   ▐██████████▌   █ ▐ ▐▌
█    ▀▀██████▀▀    █ ▌ █
█     ▄▄▄██▄▄▄     █ ▌▐▌
█                  █▐ █
█                  █▐▐▌
█                  █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█
▄▄█████████▄▄
▄█▀▀▀█████████▀▀▀█▄
▄█▀    ▄▀█████▀     ▀█▄
▄█▄    █        ▀▄   ███▄
▄████▀▀▀▀▄       ▄▀▀▀▀▀███▄
████      ▀▄▄▄▄▄▀       ███
███     ▄▄███████▄▄     ▄▀█
█  ▀▄ ▄▀ ▀███████▀ ▀▄ ▄▀  █
▀█   █     ▀███▀     ▀▄  █▀
▀█▄▄█▄      █        █▄█▀
▀█████▄ ▄▀▀ ▀▀▄▄ ▄▄███▀
▀█████        ████▀
▀▀█▄▄▄▄▄▄▄█▀▀
● OVER 1000 GAMES
● DAILY RACES AND BONUSES
● 24/7 LIVE SUPPORT
ktabb
Full Member
***
Offline Offline

Activity: 266
Merit: 103


View Profile WWW
June 18, 2017, 01:55:17 PM
 #8

FYI

I was just having a look at the 4hr btc chart on bitcoinwisdom and noticed what could be a head and shoulders pattern forming. We would currently be on the right shoulder.

I fucking hope that it is not, as I want to see this baby continue its rise, however, with the massive rise we have had I think it is possible. If a text book head and shoulders does happen that would put the price back to around the 1300, seems unlikely.



I have been saying this for a few days now on a longer-term scale. Bitcoin has been very overvalued for a while now... it's price rose far more than has been warranted by news related to japan etc. I think this recent recovery from the dip below $2100 might be the right shoulder of a head and shoulders reversal.

Also the Goldman Sachs recently bearish report on bitcoin which will likely be a self-fulfilling prophecy.

alyssa85
Legendary
*
Offline Offline

Activity: 1652
Merit: 1088

CryptoTalk.Org - Get Paid for every Post!


View Profile
June 18, 2017, 02:22:59 PM
 #9

FYI

I was just having a look at the 4hr btc chart on bitcoinwisdom and noticed what could be a head and shoulders pattern forming. We would currently be on the right shoulder.

I fucking hope that it is not, as I want to see this baby continue its rise, however, with the massive rise we have had I think it is possible. If a text book head and shoulders does happen that would put the price back to around the 1300, seems unlikely.



If this is a "head and shoulders" pattern and "the head" is 2600+ USD price, why would we be on the "right shoulder"?Right now the btc price is around 2555 USD.If the price drops to 1700 USD i would say that you are right ,but there`s no reason for such a price drop.
The btc growth is sustainable and not a result of hype.
Only some hardfork during the summer can cause cuch price fall.

There doesn't have to be a reason. Sometimes stop losses create uncontrollable selling which forces the price down. Because bitcoin is thinly traded, it just takes one big sale to trigger an avalanche.

 
                                . ██████████.
                              .████████████████.
                           .██████████████████████.
                        -█████████████████████████████
                     .██████████████████████████████████.
                  -█████████████████████████████████████████
               -███████████████████████████████████████████████
           .-█████████████████████████████████████████████████████.
        .████████████████████████████████████████████████████████████
       .██████████████████████████████████████████████████████████████.
       .██████████████████████████████████████████████████████████████.
       ..████████████████████████████████████████████████████████████..
       .   .██████████████████████████████████████████████████████.
       .      .████████████████████████████████████████████████.

       .       .██████████████████████████████████████████████
       .    ██████████████████████████████████████████████████████
       .█████████████████████████████████████████████████████████████.
        .███████████████████████████████████████████████████████████
           .█████████████████████████████████████████████████████
              .████████████████████████████████████████████████
                   ████████████████████████████████████████
                      ██████████████████████████████████
                          ██████████████████████████
                             ████████████████████
                               ████████████████
                                   █████████
.YoBit InvestBox.|.BUY X10 AND EARN 10% DAILY.🏆
Slow death
Hero Member
*****
Offline Offline

Activity: 2086
Merit: 908


Crypto Casino & Sportsbook


View Profile
June 18, 2017, 02:27:10 PM
 #10

FYI

I was just having a look at the 4hr btc chart on bitcoinwisdom and noticed what could be a head and shoulders pattern forming. We would currently be on the right shoulder.

I fucking hope that it is not, as I want to see this baby continue its rise, however, with the massive rise we have had I think it is possible. If a text book head and shoulders does happen that would put the price back to around the 1300, seems unlikely.



Oh no no no

I hope I do not see this price of 1300 because I will be in damage if bitcoin falls below $1700


██████████████████████████████████████████████████████████████████████
████████▀▀▀        ▀▀█████████████████████████████████████████████████
██████▀    ▄▄▄▄▄▄▄▄    ███████████████████████████████████████████████
█████    ▄█████████▌   ▐█████▀  ▐███████████████▌  ▀██████████████████
████▌   ▐██████████    █████    ████████████████    ██████████████████
████▌   ▐█████████▄▄▄▄█████▌   ▐███████████████▌   ▐███▀▀█████████████
█████    ▀███████████████▀▀        ▄███████████    ██▀   ▐████████████
██████▄     ▀▀███████▀▀         ▄▄███▀▀▀▀█████▌   ▐▀   ▄███▀▀   ▀█████
█████████▄▄     ▀▀███▄  ▄▄    ████▀    ▄   ███       ▄███▀   ▄█  ▐████
█████████████▄▄     ▀████▌   ▐███▀   ███   ██▌      ████    ██▀  █████
██████▀▀   ▀█████▄    ███    ████   ███▌  ▐██    ▌  ▐██▌      ▄▄██████
█████    ▄████████    ▐██    ██▀▀   ██▀   ▐▀    ▐█   ██▌   ▀██▀▀  ████
████▌   ▐████████▀    ███▄     ▄▄▄     ▄    ▄   ▐██   ██▄      ▄▄█████
████▌   ███████▀    ▄███████████████████████████████▄  ▀▀██████▀▀ ████
█████    ▀▀▀▀     ▄█████████▀    ▀█▀    ▀█       ▀████▄▄         ▄████
██████▄▄    ▄▄▄▄████████████  █████  ██  █  █  █  ████████████████████
█████████████████████████  █▄    ▄█▄    ▄█  █  █  ████████████████████
██████████████████████████████████████████████████████████████████████
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█  ▄▀▄             █▀▀▐▀▄▄
█  █▀█             █  ▐  ▐▌
█       ▄██▄       █  ▌  █
█     ▄██████▄     █  ▌ ▐▌
█    ██████████    █ ▐  █
█   ▐██████████▌   █ ▐ ▐▌
█    ▀▀██████▀▀    █ ▌ █
█     ▄▄▄██▄▄▄     █ ▌▐▌
█                  █▐ █
█                  █▐▐▌
█                  █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█
▄▄█████████▄▄
▄█▀▀▀█████████▀▀▀█▄
▄█▀    ▄▀█████▀     ▀█▄
▄█▄    █        ▀▄   ███▄
▄████▀▀▀▀▄       ▄▀▀▀▀▀███▄
████      ▀▄▄▄▄▄▀       ███
███     ▄▄███████▄▄     ▄▀█
█  ▀▄ ▄▀ ▀███████▀ ▀▄ ▄▀  █
▀█   █     ▀███▀     ▀▄  █▀
▀█▄▄█▄      █        █▄█▀
▀█████▄ ▄▀▀ ▀▀▄▄ ▄▄███▀
▀█████        ████▀
▀▀█▄▄▄▄▄▄▄█▀▀
● OVER 1000 GAMES
● DAILY RACES AND BONUSES
● 24/7 LIVE SUPPORT
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!