BTC has traded off the 1.27 of the current topping swing and held a retest of the previous structure.
I find these are things commonly seen in a prelude to a 1.61 break. Clean breaks of 1.61s are rare but many of the times they do happen the pullback comes from the 1.27 - this sort of "Loads up" the momentum for the break.
Not all 1.27 bounces produce clean 1.61 breaks, but if this one did - would be a bad implied result for BTC.
Would imply a dump to 45K. Rally from there, but this ending up as just a retest of this level.
A follow through leg ultimately taking out the 2022 lows, eventually.
I find these are things commonly seen in a prelude to a 1.61 break. Clean breaks of 1.61s are rare but many of the times they do happen the pullback comes from the 1.27 - this sort of "Loads up" the momentum for the break.
Not all 1.27 bounces produce clean 1.61 breaks, but if this one did - would be a bad implied result for BTC.
Would imply a dump to 45K. Rally from there, but this ending up as just a retest of this level.
A follow through leg ultimately taking out the 2022 lows, eventually.
Note
Antidotally, after many months of ignoring my posts - the bulls are now back calling me an idiot.We have about an 80% occurrence of a major high when that happens based on my rough estimate.
Note
For a while under 80K we briefly got back to a point where I put my notifications back on here and about 7/10 of them were worth reading. We're back to the more common 2/10 now.
Just a note. Price is 88,200. We'll review later.
Note
Sell off from resis. To TV trolls indicator logs another good entry.
Note
Simple one on the TA. I don't really use trendlines, this was a basic 76 trade. Note
When the lower highs hold, and the 76s hold ... and the trendlines hold. Generally things seen in a downtrend.
Now we wait to see if we get a new low to continue the technical development of the downtrend.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.