Head & Shoulders + Rising Wedge. Is Bitcoin About To Dump?

2017年12月26日

Price action broke out as I expected in my previous idea and it's currently heading to form a Head & Shoulders around 16700 USD. The reason why the price should fall down eventually is the appearance of a rising wedge pattern. Support at the confluence shown at the end of the right triangle.

There is a pivot between December 31st and January 1st.

2017年12月27日

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Almost there.

2017年12月28日

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Bitcoin formed an ascending broadening wedge pattern, dumped from it and got rejected after the bounce. Next bounce should around 13500 so we're close to it.

2017年12月28日

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Perfect bounce at 13500 as expected. It is either going to 15100 once more now to dump afterwards or directly dumping down to 11k or so.

2017年12月30日

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Next stop for BTC at 10200. Could have a bounce but considering the Head & Shoulders pattern, it should dump lower from that point.

2017年12月30日

注释

2018年1月4日

注释

Diamond Pattern Formation appeared. These ones normally end up breaking down.