Reverse Head and Shoulder Pattern Forming

[Enjel]

The last days, we've seen a massive bubble forming in Bitcoin, caused by irrational panic, fear, and Wall Street manipulators closing in their shorts.

This bubble will soon burst, as shown by the reverse "head and shoulders" pattern that is currently forming, and the price will be what it should be - easily 5-digits, and going up and up to make up for lost time.

We may even see one more wave of panic selling, but after that the price is going to SKYROCKET. But everything below 10k, because you won't get a second chance at this.

People say that "massive growth is not healthy". Well when you have only 0.5% of the world's population participating, you'd hope that growth would be faster than 50% a year or something..

No, the Bitcoin price is perfectly justified, and the downside we have seen was caused by manipulation, and therefore is a bubble.

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[guy369]

Dotcom bubble was valued at $8 Trillion

Crypto has yet to hit a trillion

Crypto has less than 1% of the population involved in it, we have A LOT of growth to go

[Enjel]

Dotcom bubble was valued at $8 Trillion

Crypto has yet to hit a trillion

Crypto has less than 1% of the population involved in it, we have A LOT of growth to go

And you didn't mention that the dotCom bubble wasn't even international. It was mainly focused in the US.

Just too much FUD right now, which is why we're in this bubble. Soon it will burst though.

[BUK2016]

The FUD course by North Korea and China are the main responsibility of the current decline of the market Value of bitcoin and altcoins in recent time. And the current decline has create an avenue for newbies and rational investors to invest more at this time that the value is low.

[Enjel]

The FUD course by North Korea and China are the main responsibility of the current decline of the market Value of bitcoin and altcoins in recent time. And the current decline has create an avenue for newbies and rational investors to invest more at this time that the value is low.

Also, someone said that CME contract expired 1/17, which means that the short is expiring now.

I couldn't find a source to confirm that, but if it's true, then Bitcoin will be pumped massively. And the alts will recover with it.

[Elix9]

The FUD course by North Korea and China are the main responsibility of the current decline of the market Value of bitcoin and altcoins in recent time. And the current decline has create an avenue for newbies and rational investors to invest more at this time that the value is low.

Also, someone said that CME contract expired 1/17, which means that the short is expiring now.

I couldn't find a source to confirm that, but if it's true, then Bitcoin will be pumped massively. And the alts will recover with it.

Enjel, have you watched I Love Crypto's latest video/livestream? He mentions the futures.

[ktabb]

The last days, we've seen a massive bubble forming in Bitcoin, caused by irrational panic, fear, and Wall Street manipulators closing in their shorts.

This bubble will soon burst, as shown by the reverse "head and shoulders" pattern that is currently forming, and the price will be what it should be - easily 5-digits, and going up and up to make up for lost time.

We may even see one more wave of panic selling, but after that the price is going to SKYROCKET. But everything below 10k, because you won't get a second chance at this.

People say that "massive growth is not healthy". Well when you have only 0.5% of the world's population participating, you'd hope that growth would be faster than 50% a year or something..

No, the Bitcoin price is perfectly justified, and the downside we have seen was caused by manipulation, and therefore is a bubble.

You fundamentally misunderstand what a bubble is. A bubble is when people irrationally push the price of an asset way too high while the value of the underlying asset does not rise to nearly the same degree, if at all. If you think bitcoin price is going up long term, then you don't think it is in a bubble.

All that being said, you are wrong about the price going up, but right that bitcoin is a bubble. It is still absolutely insane that the price is as high as it is considering the fact that its transaction problems render the real intrinsic value to be near zero. There is no valid use case for bitcoin anymore and it is worth near nothing. The price will reflect this long term. Today's drop was a minor dip in what will be a much larger, longer term bear market to correct the irrational exuberance that led bitcoin to where it is today.

[djpitagora]

The last days, we've seen a massive bubble forming in Bitcoin, caused by irrational panic, fear, and Wall Street manipulators closing in their shorts.

This bubble will soon burst, as shown by the reverse "head and shoulders" pattern that is currently forming, and the price will be what it should be - easily 5-digits, and going up and up to make up for lost time.

We may even see one more wave of panic selling, but after that the price is going to SKYROCKET. But everything below 10k, because you won't get a second chance at this.

People say that "massive growth is not healthy". Well when you have only 0.5% of the world's population participating, you'd hope that growth would be faster than 50% a year or something..

No, the Bitcoin price is perfectly justified, and the downside we have seen was caused by manipulation, and therefore is a bubble.

You fundamentally misunderstand what a bubble is. A bubble is when people irrationally push the price of an asset way too high while the value of the underlying asset does not rise to nearly the same degree, if at all. If you think bitcoin price is going up long term, then you don't think it is in a bubble.

All that being said, you are wrong about the price going up, but right that bitcoin is a bubble. It is still absolutely insane that the price is as high as it is considering the fact that its transaction problems render the real intrinsic value to be near zero. There is no valid use case for bitcoin anymore and it is worth near nothing. The price will reflect this long term. Today's drop was a minor dip in what will be a much larger, longer term bear market to correct the irrational exuberance that led bitcoin to where it is today.

agree...but some of the alts do have value (as in fix most if not all the problems bitcoin has). Those should still rise

[sjefdeklerk]

LOL can you post a picture of the reverse H&S you're seeing ? Are you upside down ?

[Enjel]

LOL can you post a picture of the reverse H&S you're seeing ? Are you upside down ?

GDAX, 15 minutes, right now.

I'm not familiar with the way to post pics on this site.

[Enjel]

Just like how the bulls are always talking "to the moon!" when the price goes on the run, so too do the bears when the price drops.

The TA is objective in this case, since reverse head and shoulders has been very consistent.

Anyways, Masterluc was definitive (and he usually doesn't give certain instructions) that any buy under 10k is a good buy.

When he's that certain, well, that's a big deal.

[fabiorem]

Also, someone said that CME contract expired 1/17, which means that the short is expiring now.

I couldn't find a source to confirm that, but if it's true, then Bitcoin will be pumped massively. And the alts will recover with it.

Was CBOE which expired. CME will expire by 26th January.

[Enjel]

Also, someone said that CME contract expired 1/17, which means that the short is expiring now.

I couldn't find a source to confirm that, but if it's true, then Bitcoin will be pumped massively. And the alts will recover with it.

Was CBOE which expired. CME will expire by 26th January.

My mistake - but yeah, CBOE shorts were successful (of course they were), but now it's time for the pump.

However, I don't expect a massive recovery or anything... just that we will be staying above 10k , with maybe one more move below at most.