Back to bitcoin, ah bitcoin. Heres a quick look at the 4 hour bitstamp chart.
Price is holding up quite well above $650 at the moment.
I’ve got a bit of an idea for another chart pattern which I thought I’d share. Its looking to me a bit like a head and shoulders is forming which if it completes might see us heading towards the bottom of the pink channel. However since the trend is up this will result in a kind of sideways choppy pattern more than big moves down (in theory) . To kick it offI think the head itself looks like it has a mini head and shoulders in it too. I’ve indicated what i mean with some orange arrows.
Anyway in summary I think we’re most likely in for a period of sideways consolidation more than any big moves up or down, for a little while at least.
Now that I’ve opened my big mouth expect prices to shoot to the moon and beyond