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RE: Bitcoin/BTC Daily Price Review (05 Mar 18)
Did you notice the larger inverse head and shoulder the smaller one is inside of? We have to go back down first. I still think this small double top will play out forcing us into a huge double bottom is more likely. And we will moon to $17k after, but who knows? There’s also a huge inverse head and shoulders on the LTC monthly.
Yeah, your recent post (here) enlightened me on the possible larger inveres head and shoulders pattern, which if that eventually forms and completes would be pretty incredible. Double bottom scenario is also interesting, I guess the next few days will tell if we manage to get through the overhead resistance (which is just beginning to be tested):
Regarding LTC, yes, I've been keeping an eye on that price action as well, although I tend to focus on LTCBTC cross for relative strength. I've got a bit of a soft spot for LTC so would like to see it do well, especially with the recent announcement of litepay. Exciting times. Keep up your posting @ctom, it's always good to see other people's perspectives and analyses.
Thanks man. I appreciate it. It also looks like so far I’m right. I’ve changed my analysis slightly due to a recent finding it. Head over and check it out.