Is Bitcoin Head & Shoulders now? by dawidrams

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bitcoin · @dawidrams · Jun 25 '17 (edited)

$0.46

Is Bitcoin Head & Shoulders now?

![techbtc.png](https://steemitimages.com/DQmXU6AaDQ42ssMw9LXzNLQgXuVoCmzmcSExJatbrLSP3o2/techbtc.png)

Do you think that BTC has drown the Head and shoulders formation?

After Investopedia:

*In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.*

http://i.investopedia.com/inv/dictionary/terms/HeadandShoulder_050906.gif

More info here: http://www.investopedia.com/terms/h/head-shoulders.asp

👍 kurtbeil, rockymtnbarkeep, bonsaitreehouse, uzamkniete, dawidrams, merchdesigner, hastla, pavvel, feedmemoar, readman, luboremo, radzioha, solowire, piotrdab, kryptotr, bastiencrypto, cookie

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@uzamkniete · Jun 26 '17

Yes... It is possible. Bitcoin have a problem with creating new peaks. So we have to watching on "neck line"

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@wekkel · Jun 25 '17

Could be but a drop to $900? That seems a bit too much. It is likely that price ounces ultimately around $1,800. Even the average on the Weekly is above $1,400 now and not easily punched through, I think.
![Bitcoin Weekly]([img]http://i.imgur.com/66Xtsgy.png[/img])
*Bitcoin Weekly Chart (Bitcoinwisdom)* - [link](http://i.imgur.com/66Xtsgy.png)

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@dawidrams · Jun 25 '17

2300 - 900 = 1400

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@wekkel · Jun 25 '17

Ha ha, great minds think alike.

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