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Is it happening now, BTC below 37K !!??!!

#82
Golden Fleece said:
The one-years chart is showing a head and shoulders pattern with a neckline at $30k. This pattern often indicates a bullish-to-bearish trend reversal -- and signals that an upward trend is nearing its end. Investors consider this pattern to be one of the most reliable trend reversal patterns. If price goes below $30k and then hits resistance at that level, there is little price support until the $20k level.
Click to expand...
Except it's not. A poor double top at best and monthly has to close under 35 to even consider a break.
 
#84
Golden Fleece said:
The one-years chart is showing a head and shoulders pattern with a neckline at $30k. This pattern often indicates a bullish-to-bearish trend reversal -- and signals that an upward trend is nearing its end. Investors consider this pattern to be one of the most reliable trend reversal patterns. If price goes below $30k and then hits resistance at that level, there is little price support until the $20k level.
Click to expand...
Lol, tealeaf reading at best. It may or may not go down.
DXY chart is what counts these days.
 
#88
010cents said:
Except it's not. A poor double top at best and monthly has to close under 35 to even consider a break.
Click to expand...
You need to learn more. It is called a slanted head-and-shoulders pattern, which can form on any time frame. It is just that the higher the timeframe, the higher the chance of success.

You could have easily Googled for this information yourself:

BTC/USD Forex Signal: Head and Shoulders Pattern Forms

The BTC/USD pair remained in a tight range as Wall Street attempted to recover.
www.dailyforex.com
________________

ih8socialism said:
Below 29k USD for a while now.

Next level 27.6k or 23.7k ?
Click to expand...
If it stays below $30k until the Friday close, it is then far more likely to form a $30k resistance level.

If that happens, I do not see much support until $20k. Of course, fundamental analysis always trump technical analysis. Oh wait, we are talking about Bitcoin. There are no real fundamentals.

Once upon a time, all the gurus touted Bitcoin as safety against stock market declines, dangerous world events, and inflation. Well, we all saw how that went. It might still prove useful against capital controls.
 
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#89
Golden Fleece said:
You need to learn more. It is called a slanted head-and-shoulders pattern, which can form on any time frame. It is just that the higher the timeframe, the higher the chance of success.

You could have easily Googled for this information yourself:

BTC/USD Forex Signal: Head and Shoulders Pattern Forms

The BTC/USD pair remained in a tight range as Wall Street attempted to recover.
www.dailyforex.com
________________


If it stays below $30k until the Friday close, it is then far more likely to form a $30k resistance level.

If that happens, I do not see much support until $20k. Of course, fundamental analysis always trump technical analysis. Oh wait, we are talking about Bitcoin. There are no real fundamentals.

Once upon a time, all the gurus touted Bitcoin as safety against stock market declines, dangerous world events, and inflation. Well, we all saw how that went. It might still prove useful against capital controls.
Click to expand...
Hahahahahahahahahahaha my guy, stop making a fool out of yourself. A "slanted head-and-shoulders pattern"? Seriously? LMFAO!
 
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#90
010cents said:
Hahahahahahahahahahaha my guy, stop making a fool out of yourself. A "slanted head-and-shoulders pattern"? Seriously? LMFAO!
Click to expand...
So now people are disputing the existence of price pattern formations that technical analysists have used for fifty years. And the fools are now calling normal people fools. Now I have seen everything.

Peak clown world has arrived.

a slanted.gif


a slanted #2.png


The BTC/USD pair has been moving without a well-defined trend in the past few days. The pair remains slightly above the descending trendline shown in orange. It has also formed what looks like a slanted head and shoulders pattern. This pattern is usually a bearish signal.
Click to expand...

BTC/USD Forex Signal: Head and Shoulders Pattern Forms

The BTC/USD pair remained in a tight range as Wall Street attempted to recover.
www.dailyforex.com
 
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#91
Golden Fleece said:
So now people are disputing the existence of price pattern formations that technical analysists have used for fifty years. And the fools are now calling normal people fools. Now I have seen everything.

Peak clown world has arrived.

View attachment 3620

View attachment 3621


BTC/USD Forex Signal: Head and Shoulders Pattern Forms

The BTC/USD pair remained in a tight range as Wall Street attempted to recover.
www.dailyforex.com
Click to expand...
The term "slanted head and shoulders" pattern does not exist. This is the only website I've seen mentioning it, what a reliable piece of information. You posted 2 images, both showing a H&S pattern, not a "slanted head and shoulders" pattern rof/% .

From the top in 12 April 2021 to the top in 28 March 2022 is a 25% difference. Even if you take the top of September 2021 and March 2022 it still remains a poor H&S pattern, like I previously said. Both the baseline and top of the right shoulder confirming my view.

Learn what a H&S pattern is and learn what confirms or invalidates it. Next time I won't educate you for free, gotta pay a bill or something.
 
#94
Golden Fleece said:
So now people are disputing the existence of price pattern formations that technical analysists have used for fifty years. And the fools are now calling normal people fools. Now I have seen everything.

Peak clown world has arrived.

View attachment 3620

View attachment 3621


BTC/USD Forex Signal: Head and Shoulders Pattern Forms

The BTC/USD pair remained in a tight range as Wall Street attempted to recover.
www.dailyforex.com
Click to expand...
putting up lines arbitrarily is not science, but some voodoo practice at best.

It is all liquidity driven right now more than ever.
If QE comes back tomorrow it goes up, if not, doom.
 
#95
JackAlabama said:
putting up lines arbitrarily is not science, but some voodoo practice at best.

It is all liquidity driven right now more than ever.
If QE comes back tomorrow it goes up, if not, doom.
Click to expand...
That’s some good analysis: if it doesn’t go up, it will go down.

Btw, sometimes basic TA is self-predicting. For example, you might calculate 61.8% retracement from ATH and you will get…
 
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