Bitcoin is in a struggle with the $8000 level. This week we fell to $6012 and then all the way up to $9067 on Bitstamp. Today we are back at $8009 up from $7826.
But look, we were at $7775 two days ago. And before that we turned at $8599 on Bitstamp. Does this look like a Head and Shoulder forming? If it is, we will go back to $8599-ish and then come all the way down again to below $7775. Ono! Hope I am wrong.
Look if you can see it on the chart from Bitcointicker.co below:
Here is Dan at the Chart Guys discussing the Head and Shoulder forming and his definition of a higher low. https://www.youtube.com/watch?v=VPugBxJ1bMU
Head and Shoulder pic from Wikipedia.org:
Source: https://en.wikipedia.org/wiki/Head_and_shoulders_(chart_pattern)
QUESTION: What do you think of the current bitcoin chart? Do you think there is a Head and Shoulders pattern forming?
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Colin Brazendale
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I am a successful bitcoin cloud miner and affiliate of Genesis Mining and USI Tech. I have been mining for the last 19 months. I highly recommend Genesis Mining and USI Tech to earn bitcoin and make money online. I believe it is more important to earn income than hold assets. That is why I recommend mining crypto and blogging on Steemit.