So we have an inverse Head and Shoulders and a cup and handle on BTC. If it breaks out of of current high, then we can see potential profits $9600 for the cup and handle followed by the 11600 for the H&S. This idea will cancel if it does not break the $8700 (and holds) resistance level. Good luck everyone. Hope this is the end of the current correction for the entire market. Lots of alts such as LTC and ETC have broken out.
**NOTE** I am not an experienced trader. I am an investor learning TA. So please, take it easy on me.
**DO NOT use my published ideas for making decisions. Recommendations are welcomed.
交易开始
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First target almost reached. Good luck.
交易结束：到达目标
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First target reached. Congrats! Will look forward to second target of $11500 if current trend continues.
交易开始
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after meeting our first target we are clearly on the way to our final target of 11760. Good luck
交易结束：到达目标
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Our idea got within $45 of out target price. Not bad considering we started our idea at about $8763 with a goal of about $11833. It was a good run. Time to find another house to flip...I mean, trend. :)
Anyone considering what all the Lunar New Year money will do to Crypto on Thursday? Think of all the asian Crypto heads who will be flush with cash from all their red envelopes.
fernx
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@joshua.l.hendrickson, I agree. I am curious to see what will they do with all that yuan...lol
rodrigomonte
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Just for my info (as I'm trying to learn), how did you come up to these objectives (9600 and 11600)?
fernx
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@rodrigomonte, by definition, and granted these are approximations and guides not predictions, take a straight line from the head of the head and shoulders to the neckline. Then use this same line and place it above the neckline. This should give you a rough estimate of the target. Same for the cup and handle. Remember, these are targets. Not predictions. Hope it helps.