Bitcoin head & shoulders reversal - target level ~$5.8k

Dec 26, 2017

BTC/USD is showing a potential head & shoulders reversal pattern here. bearish confirmation & target are labeled on the chart, as well as bullish confirmation (IMO the bearish projection here is more likely statistically). bullish confirmation would likely bring it to at least 20k.

I might add a bigger write-up later if I have time, currently busy with my family. but I will quickly say that this situation and chart is eerily similar to the crash we had pre-Segwit1x fork.

trade at your own risk.

Dec 28, 2017

Note

more and more it's looking like the bearish scenario is being confirmed

Jan 1, 2018

Note

about to retest the neckline in the short-term

Jan 2, 2018

Note

strong rejection of the upside of the channel here
still looking bearish to me; target remains unchanged

Jan 5, 2018

Note

at this point it looks to me like there will be bullish confirmation soon

Jan 5, 2018

Order cancelled

pattern invalidated. next stop 25K?

Jan 8, 2018

Trade active

it looks like my first chart (this chart) will actually be the correct path now.