Hello Steemers,
In his July Bare Naked Wealth (BNW) report #11, Clif High (https://halfpasthuman.com/) made several predictions about crypto currencies and Bitcoin, et al. One of the non-paying ($99 for the report) predictions echoed by many who did read the report was "three spikes" in BTC price(s) for the July-October timeframe. This is echoed in financial theory by a "head and shoulders" pattern.
The first of the above images is a head-and-shouders "Top", which continues a downward, or declining, continuing trend. The second is a head-and-shoulders "Bottom", which shows a breakthrough going upwards, or a new rising trend.
So which is it? Let's go to CoinMarketCap.com and look at July 2018 onwards to find out.
I believe in the past predictions of Clif High with his web bot reports of $100,000.00 USD Bitcoin (BTC) by end-of-year 2018. There have been other predictions of at least $40,000.00 USD BTC by 2018's final week as well. This would indicate a "bottom" or inverse type of head-and-shoulders formation. The "neckline" of the head-and-shoulders pattern is key. The "neckline" in the above CoinMarketCap picture is approximately $8,383.00 USD. If we are now out of the first "shoulder" of the pattern as well as the "bottom" of the inverse-head pattern (BTC @ $5,984.28), then the next "shoulder" should at least reach $8,383 before heading down again. Not as low as the inverse-head low, but around half of the "head" low, or approximately BTC @ $7,400 USD. The next few weeks will tell.
That's my Technical Analysis for BTC based on Clif High's work. I am not a financial planner, do your own due diligence to buy, sell, or hold any kind of security, including crypto-currencies, and this is for entertainment purposes only. I will add that I hate Technical Analysis, because it is like a corrupt forensic surgeon trying to convince someone that the corpse they are studying died from blunt force trauma caused by a vehicular accident when instead the person was beaten to death in a mugging. With market manipulation so blatant, TA apologizes and tries to "explain" what happened, but is blind to the manipulation.
Based on TA dovetailing with web bot predictions, we have seen the "lowest of the low" for 2018, and should now see another mid-term "high" for BTC et al, followed by a halfway-down "drop", before the "takeoff" predicted around 10 October 2018 or mid-October to have BTC rise to new all-time highs in time for the US Christmas holidays and end-of-year profit taking and reporting.
(Pictures are taken off of Wikipedia, the Internet, and CoinMarketCap.com and used without permission.)