Hi guys! Here are my thoughts on bitcoin for today. ## BTC - Weekly Chart Tools used: **Fib Retracement** and **Stoch RSI**  Looking at the weekly chart quickly I don't see any sign of reversal of the current trend yet. Also note that the stoch RSI is still on the oversold area and not showing any reversal to the upside just yet. ## BTC - 4 Hour Chart Tools used: **Stoch RSI** and **Trendlines**  I found this head and shoulder pattern forming on the 4 hour chart and if this is a valid pattern. Which means that bitcoin will go to the downside and it will likely to retest the prior support (around $7,000 which is also 200 SMMA). ## Disclaimer You know the drill guys. This is just opinion and not a financial advise. Do you own research and decide your own trades. Cheers!
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|---|---|
| author | devytan |
| permlink | bitcoin-btc-price-update-head-and-shoulder-pattern |
| category | bitcoin |
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For future viewers: price of bitcoin at the moment of posting is 8193.20USD
| post_id | 39,008,005 |
|---|---|
| author | ipostbtcprice |
| permlink | re-bitcoin-btc-price-update-head-and-shoulder-pattern-20180317t035051 |
| category | bitcoin |
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| created | 2018-03-17 03:50:54 |
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So do you trade real money on your own price projections? If you do how accurate are you a projecting the price movement?
| post_id | 39,008,889 |
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| author | hanamana |
| permlink | re-devytan-bitcoin-btc-price-update-head-and-shoulder-pattern-20180317t035910927z |
| category | bitcoin |
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| created | 2018-03-17 03:59:24 |
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For this moment my capital is locked up, so I would probably look for an exit (preferable a bounce to get out of the trade). I don't really predict the price. I only adjust my trading strategy with confirmation that I could find on the market.
| post_id | 39,010,902 |
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| author | devytan |
| permlink | re-hanamana-re-devytan-bitcoin-btc-price-update-head-and-shoulder-pattern-20180317t041545513z |
| category | bitcoin |
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| created | 2018-03-17 04:15:45 |
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Most traders seem to have their capital locked up in BTC and Altcoins with the price acting unlike before Dec 2017 when prices were climbing like crazy and anyone who bought made money...lol Now, it seems general retail investors without any experience in trading is confused. I am confused as what is going on with BTC retracing down for 3 months already.
| post_id | 39,011,829 |
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| author | hanamana |
| permlink | re-devytan-re-hanamana-re-devytan-bitcoin-btc-price-update-head-and-shoulder-pattern-20180317t042419096z |
| category | bitcoin |
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| permlink | re-devytan-bitcoin-btc-price-update-head-and-shoulder-pattern-20180317t041036747z |
| category | bitcoin |
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