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Author Topic: Head and shoulder pattern is on the way, New all-time high is coming.  (Read 319 times)
TERA2
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February 28, 2018, 07:14:12 AM
 #21

Trying to call a H&S in advance is a pointless crapshoot. Usually it turns into something else besides a H&S.

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February 28, 2018, 02:38:13 PM
 #22

A new all time high is very far away!
Furthermore you may talk about an inverted head and shoulders pattern as the normal h&s is bearish, and not bullish!
We had a good run the last couple of days but the zone between 11k and 12k will show some strong resistance.
And right now we are struggling to hold 10500USD, plus sliding on the 4hr kumo.
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February 28, 2018, 03:19:10 PM
 #23

A new all time high is very far away!
Furthermore you may talk about an inverted head and shoulders pattern as the normal h&s is bearish, and not bullish!
We had a good run the last couple of days but the zone between 11k and 12k will show some strong resistance.
And right now we are struggling to hold 10500USD, plus sliding on the 4hr kumo.


There shouldn't really be anything in theory that suggests 10.5k offers any real resistance so I don't think it's worth focusing on. I believe that Bill Gates words hurt the price a little bit and that's why we saw the slight dip down from 11k. If the price does hold around 10.5k it's only further evidence that 9k was a sound bottom with strong support and that more bull runs are coming.

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Denker
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February 28, 2018, 03:24:48 PM
 #24

A new all time high is very far away!
Furthermore you may talk about an inverted head and shoulders pattern as the normal h&s is bearish, and not bullish!
We had a good run the last couple of days but the zone between 11k and 12k will show some strong resistance.
And right now we are struggling to hold 10500USD, plus sliding on the 4hr kumo.


There shouldn't really be anything in theory that suggests 10.5k offers any real resistance so I don't think it's worth focusing on. I believe that Bill Gates words hurt the price a little bit and that's why we saw the slight dip down from 11k. If the price does hold around 10.5k it's only further evidence that 9k was a sound bottom with strong support and that more bull runs are coming.

No good old Bill has no say in crypto.His words have no weight and therefore no influence on the price.
He is mostly talking nonsense when it comes to Bitcoin. We all know this.
He just doesn't understand it or doesn't want to.
Billy boy is one of the super rich who fear this technology and it's disruptive potential.
That's all we need to know. The rest what comes out of his mouth can be ignored.
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February 28, 2018, 09:51:59 PM
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 #25

I'm looking for continuation into the $14,000s but I'm not necessarily expecting an immediate attack on ATHs and resumption of the 2017 bull market.

The latter part of the bull run is actually not a good indicator to pay attention to, due to how speculation driven it was with the future markets going live at that point. It got the market hyped up beyond what would be justified without the future markets functioning as bullish trigger point. From there I personally consider $15k as the highest top to be the actual (non inflated) all time high.

There's some logic to that. But then again, this is usually how price discovery works in Bitcoin: exponential growth periods (bubbles) followed by mean reversion. In that sense $15,000 is still pretty "inflated" given that it's 15x over the 2017 yearly open.

OP, I do not see any "head and shoulder" pattern. Plus aren't those patterns supposed to be bearish?

Correct me if I am wrong here because I'm quite sure that they are.  Huh

I took the OP to mean an inverse head and shoulder pattern. They work as reversal patterns in both directions.

What the OP forgot to include:


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March 01, 2018, 06:59:34 AM
 #26

It's too soon to say BTC will reach a new ATH just yet, it's only few days of uptrend. This very well might be just like last time reach till 11-12k and then drop back to 9-10k.

The general consensus is that Bitcoin will stay in the $10,000 level for a longer time than expected that is why when it can be able to approach $11,000 + there will be a sudden profit-taking from many investors who are out to make some money out of their investment. The result is that the value will get back to the $10,000 again and again. Until now, there are no big stimulus on the market for Bitcoin to make big surges. We have no choice but to wait maybe after the end of the Q1 2018.
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March 01, 2018, 12:59:06 PM
 #27

It's too soon to say BTC will reach a new ATH just yet, it's only few days of uptrend. This very well might be just like last time reach till 11-12k and then drop back to 9-10k.

The general consensus is that Bitcoin will stay in the $10,000 level for a longer time than expected that is why when it can be able to approach $11,000 + there will be a sudden profit-taking from many investors who are out to make some money out of their investment. The result is that the value will get back to the $10,000 again and again. Until now, there are no big stimulus on the market for Bitcoin to make big surges. We have no choice but to wait maybe after the end of the Q1 2018.

I don't mind. And with the current movement, you can make little profits pretty much everyday by riding those little ups and downs. TAs for charts don't often make right predictions. Btc has proven that time and time again. Though it's unlikely that we're not going to hit another ath this year. That i'm sure of

 
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