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KITE

diamond bottom now diamond kite bottom; same target as bull flagI see confluence in the current bull flags breakout target and the price target of the diamond kite breakout giving me confidence we will hit tis target...in order to do so we will need to break above the inverted head and shoulder neckline...while I think we will come within at least 1-2 pips of this price target I'm not so certain on whether or not we will actually trigger the inverted head and shoulder breakout....if we were to come close to hitting this target and then had a sudden huge whale dump right after the candle that reached the trget could still close under the inv h&s neckline and cause a fakeout/dump instead. I will be paying very close attention to the volume levels once we get near the price target...if we do indeed trigger the inverted head and shoulder pattern afterwards we can climb as high as 5.2k also a possibility we stay just above the neckline or dont even get above it before a dump. Best to consider all bearish and bullish outcome potentials to be best prepared for which direction it decides to ultimately go. I'm still anticipating one last capitulation dump candle but that could come immediately or not until we reach 5.2k it could even continue up one more leg after 5.2k before the capitulation dump and also a slight possibility capitulation has already happened...so best just to play the charts for their current condition instead of trying to be certain of thigns that are still speculation at this point.
BITSTAMP:BTCUSDLong
by DrDovetail