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RE: Bitcoin (BTC) Mid-Day Update: Bitcoin Misery Index (BMI) Flashes a Buy Signal

in #bitcoin7 years ago

on trading view, magicpoopcanon had an interesting analysis of the head and shoulders at the all time high area. though the neckline was broken it reversed up to 17k, which he termed a 'head test' that never reached the head, and then we started going down. then we had that recent big inverse head and shoulders (head being $5900) that didnt break that neckline around 11.7, and noted (via his chart) showing the 7200 area looks like another head test which again didn't reach, which could still leave that larger iH&S in play. i thought it was an interesting observation. much easier when visually looking at his chart. wonder if you could comment on that if you had any thoughts.