Head and Shoulder formation in BTC

I see at least 56 patterns on that chart...

 

I see only one: a strong Uptrend

 

Tulips moved 6000% and collapsed, in six months, the moves in crypto currencies are bigger and they have lasted longer. See http://www.elitetrader.com/vb/showthread.php?t=281748

 

It certainly wouldn't be a buy and hold for me no matter what the historical chart says, try to remember the chart onlys shows you the history and has no bearing on the future other than to help identify support and resistance areas, I would just look to trade it short term for better opportunity

 

One striking comparison is that current Market cap of the flower-industry is about the same: 10 billion dollar (8 of those in the Netherlands alone)

 

Looking to go short again for a second test of support

 

The price charts aren't the best indicator. It's the grow in User-base: the number of people and businesses adopting the currency: which is 20% each month:
http://www.bitcoinpulse.com/

 

I believe they are actually the best indicator of sentiment actually

 

Very important daily support coming up at 200 ema

 

Nobody ever seems to mention that those tulips were bought with 40:1 margin

No margin in bitcoin.