H&S is completed and the pattern look very similar but smaller scale as 2010-2012...I say were going back to the $7 mark by end of year. See my previous post on $AMD
There is a H&S developing that I've been tracking but the right shoulder looks ugly due to the FUD of the TradeWAR...but it still want to complete its full right shoulder...which now has developed into a rising wedge..with decreasing volume and RSI fluttering at the top...as the title states "the drop is imminent in gold" time to buy $DGLD or $DUST
Last time GE went below $14 was in Nov 2008...then it took a dive...time for another.
Volume dropping while price increasing...the last two/three month flat (we hit the top)...time to drop.
Since hitting its low point BTCUSD has followed Elliott Impulse Wave (12345) then a Correction Wave (ABC) then another Impulse Wave finishing off by a Head and Shoulders peak. At this point it is most likely going to drop to around $8000 (blue arrow down, sorry folks). But it must first drop bellow $9700 support. There is a chance it will return to a bullish...
But on a smaller time frame. Either way it retraced back to its low...if that pattern repeats we are looking at a 80+% drop...lets hope i'm wrong.
So far the pattern has not been violated but is continuing its course. See my previous post.
Yes...That's right I said it...a wedge within a wedge...now lets see that pop!!!
Within a couple of weeks we will hit .0012 then come down some before breaking out and creating an ATH.