Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Almost there!
The pattern of a head and shoulders?
Tell me if I'm wrong ... but according to what I understand, the head and shoulders pattern is used to indicate a change in the trend. In that sense, the pattern indicated on your graph would not be valid.
This Chart is not mine.
Original post found here
The reversal indicator is true from the previous inverse H+S from June 11-July 16; in which indicated a (temporary)reversal from the down trend. Remember though, charts only show the past. You can only achieve an educated guess for how the future will turn out. And Bitcoin does not usually follow any sensible logic patterns especially with futures markets in play.