Bullish Trend supported by fully developed Head & Shoulders bottom

[Spekulatius]

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):



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

[kokjo]

Not sure if serious?

[coined]

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

[Bitcoin Swami]

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

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

[NamelessOne]

Matches my assessment also.

[Spekulatius]

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

Thank you

Drawed u a picture as thanks

[kokjo]

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

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

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?

[NamelessOne]

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

[GeniuSxBoY]

Is that bitcoin creating a golden shower ??

[NamelessOne]

Certainly looks so to me. Perhaps peeing with excitement.

[KMBTC11]

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

[mobodick]

Is that bitcoin creating a golden shower ??

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

[epetroel]

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?

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

[Jack of Diamonds]

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

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

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?

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

[OgNasty]

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. 

[Bigpiggy01]

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.

+1

I think someone has been busy with one of these

[coined]

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. 

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 






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


hehe

 

jk settle down

[S3052]

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.

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 $.

[evoorhees]

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

[OgNasty]

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 $.

What was your prior sell recommendation?