TonyCryptano
Panjang

Inverted Head and Shoulders reversal

BITSTAMP:BTCUSD   Bitcoin / Dolar
Closing over 15000 will confirm the huge reversal.

Huge volume on reversal candles at the left shoulder and the head of this patterns emphasize the exhaustion of sellers.

RSI formed some kind of double bottom on 15min chart and failing to make a new low.

On 4 hour chart, price crossed 200 moving average. Most hedge funds and investment banks make decisions based on 200ma so, this can indicate that they are busy behind the scene buying as much as they can, but i'm not sure if they are buying alts, or BTC             or both.

On log scale of the weekly chart, BTC             almost touched upper trendline of the old trend which was broken when BTC             crossed 11000 a few weeks ago. In this case it is acting as support.

Next scenarios?

1. It can correct a little penetrating into the green ichimoku cloud , making complex head with 4 shoulders pattern and then bounce back aggressively.

2. BTC             won't stop being aggressively bought and will soar well above 20000 until the end of the year.




Komen: Watch 15min chart, you will get better picture
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