Bitcoin approaching the neckline of a large inverse h&s pattern

May 5, 2018

Bitcoin has made a breakout of the major resistance level in red. BTC is now heading towards the neckline of a large inverse head and shoulders pattern. The profit target is calculated by measuring the distance between the top of the head and the neckline of the inverse h&s. To confirm this breakout there must be a close above the neckline of the invest h&s pattern. The MACD is still in a bullish crossover and the RSI isn't even in the overbought zone. This is a good signal that the neckline will be at least tested.

May 6, 2018

Note

Correction almost over, RSI is oversold and strong support below

May 22, 2018

Note

I will be back to TA soon just real busy with uni at the moment sorry. From what I can see right now however is BTC is still on the upward trend path. I will only start worrying if we dip below the 6k area. But even then its not a big deal, long term I know that BTC will take off again and when it does I'm in at the start. For now just hodl and stay strong, even if that means no longer paying attention to BTC for a few months or years