12000
Inverse Head and Shoulder with target of $12,000Hey guys,
The ColorChartist has not quit the speculation game yet.
I am still annoyed to write and describe by analysis, so I'll keep it short.
In my opinion we are now trading in a Triangle Pattern with an eventual Head and Shoulder that could possibly form its Right Shoulder if we break down to the $7,350 area and bounce from there to the upward direction.
If we break out the Red Descending Trendline, we could probably get to the $9,026 price level coinciding to the 0.618 Golden Ration of the Fib Retracement drown. Breaking that 0.618 level to the upside would be a confirmation of the break of the Neckline of the Head and Shoulder which could give us a potential target of $12,075.
I really think we are heading to the $12,000 area, but if the Head and Shoulder is invalidated and we break the Yellow Ascending Trendline to the downside, who knows if $4,550 is not in the cards.
Time Will Tell!
#TheColorChartist #GbazCrypto #NotFinancialAdvice #BrandNewPaxoChart
BTC hits 1wk bullflag target no resistance between 12k and 13kAfter hitting the weekly bullflags breakout target at 12197, BTC has continued soaring bullishly upward with practically zero resistance in between 12k and 13k...next potential resistance is 13070 but at this point its questionable if it will be that significant. This parbolic move is unlike anything I've ever seen and where the correction may finally be is as of yet uncertain so I continue o hodl.
2014 CRASH COULD HELP PREDICT HOW 2018 WILL PLAY OUT!This chart is just too perfect. The time-adjusted overlay of the 2014 crash with the current bear trend matches spot on. If it continues to play out it suggests a rally to ~12k before making new lows and eventually a nice round bottom before starting the next big bull run in 2019. Going to keep following this and will post updates. Happy trading!