BITCOIN: In the Neckline of the “inverted Head and Shoulders”

BITCOIN: In the Neckline of the “inverted Head and Shoulders”
January 08 21:46 2019

Many people ask me why lately I only use BITCOIN in my daily analysis and why not to search for other good altcoins willing to “Pump” and generate quick profits…

Quick and easy answer, because BITCOIN is the reference Crypto, still and, despite I am strongly convinced that there are much better 2nd or 3rd generation blockchains as STEEM, EOS or the like… I cannot deny the supremacy of the “king” besides is “beauty” in being the great invention of this, our beloved Blockchain technology…

Having said that, and coming back to the usual post topic here that is the TA analysis of the market, let me tell you that, perhaps I am wrong but the maintained “tiny” volume does not allow me to see the Bulls at the horizon.

Of course, I can see that “nice” INVERTED HEAD AND SHOULDER pattern, inviting me to BUY now with a projection in profits of 27%…

But I also see the same on STEEM…with 46% potential

…or BITSHARES with 42%

… or STELLAR with 50%…

… and I can tell you, I have see this pattern many times last year 2018…and it has never been triggered as expected…or as we wished so, claiming for the end of the correction there…and also supported by a RSY bullish divergence ;-)…

I feel as this correction is not finished yet…also because the EW-Count claim to correct lower and the Volume support it…


Hoping to be wrong this time ;-)…I will continue anyway “sailing” the waves, independently if they are going downstream or upstream, the important is to follow the flow …


@toofasteddie


*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.


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About Article Author

toofasteddie
toofasteddie

Superconducting Engineer working for the development of the Fusion Energy, Dad, Crypto-Enthusiast and Runner addicted. I am in a "Continuous Learning Mode" as well I am always willing to share my knowledge about the fields and topics related with trading, Cryptocurrencies, Blockchain technologies and Sports, in particular Running and Athletics.

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