Bitcoin 07 October 2017, Head and shoulder?

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Update 14 October 2017,

I was wrong about head and shoulder formation, bitcoin price soaring to $5,616. But even wrong if you following my advice to buy if crossing $4,490, let say you bought $4,491, by now your portfolio should increase 25%.

You see it doesn’t matter whether your prediction is wrong as long as you know what to do when it does.

Bitcoin Price 14 Oct 2017

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Hi everyone,

this morning i am writing my personal opinion of Bitcon price. I see a potential head and shoulder formation it means the price will go down in the several days/week ahead. Please see chart below (click picture to enlarge).

My prediction is the price will likely going down to about $3590 support level. If break thru it will down further and the next target is $2,916 support line.

If my prediction wrong and the market goes bullish then I will buy if Bitcoin price cross $4,490 as at current price at $4,350 it still above 50 Moving average.

For me trading is not about right or wrong predicting the price, but how we can manage and follow where market goes and follow them, Have a nice weekend 🙂

bitcoin october 2017 head shoulder formation

Disclaimer: There is always financial loss and profit potential when you trading on any market including Bitcoin. I am not take any responsibilities for any action you made on your trading strategy.

 

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