fiksiplay
Short

The Bubble is blown away (H & S pattern)

POLONIEX:LTCBTC   Litecoin / Bitcoin
We can see dangerous Head & Shoulders pattern , where the Neck line was broken meaning that price will fall . Volume is too low . Price can be volatile and make one more bearish pattern or go down slow without any patterns. I suppose 2 targets
1st target :0.006
2nd target :0.0035
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Comments

LOL
+1 Reply
left shoulder is higher than head ? ftw formation is that ?
Reply
@asefe, it is cryptocurrency market. For example you can check ETC/BTC CHART
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asefe fiksiplay
@fiksiplay, I dont say that targets are impossible, it can be even worse but it doesnt look like a proper shoulder -head - shoulder formation.
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@asefe, look on the volume , typical H & S
Reply
asefe fiksiplay
@fiksiplay, Thanks , I will take account that
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DJPandaBites fiksiplay
@fiksiplay, @asefe H&S volume patterns are more about price and volume divergence, which isn't really what we see here (Higher volume being unable to make a new high). This may be a bearish pattern, but closer to a triple top than H&S. Lower volume breakouts on triple top are normal....

Regardless, short r/r isn't great here. Better plays in crypto for short.
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fiksiplay DJPandaBites
@DJPandaBites, but looking on the left shoulder We can see big shadow which could be pumped by several players and on the head there is double top . May be my mistake that I made left shoulder so high and should set the peak near fixing the price on highest candle
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