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RE: Bitcoin (BTC) Evening: When is the Best Time to Buy?
Thanks for your input. I agree 100% with that.
All we can do is keep a close eye on the right shoulder. If it hits the peak and then starts going down again it becomes the most probable outcome, right? After it breaks the neckline it's time to get out of the market and be ready to get back in @ 6-7K?
What's your opinion on altcoins? There is no way you can make profit on alts while BTC is going down? Maybe there is a way to make more BTC out of altcoins trading...but fiat profit is going down no matter what...right?
The way I understand h&s is that we should see an increase in volume when declining from the right shoulder. That would be a warning sign this is a legitimate h&s.
In @haejin's latest video he said the volume was not indicitive of a h&s, but according to http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:head_and_shoulders_top_reversal it's exactly what you should expect.
Again, @haejin has way more experience than I do, so sometimes "intuition" plays a role in TA. He's been quite good with that in the past.