What do bearflags normally do? :) We should see that final ABC correction play out until next year this time. A macro bearish pattern that will come to an end. C leg is in motion. Don't ask me what will happen with crypto once we hit that green bottom zone next year! LOL. If, and if we break this macro pattern and we land at the bottom of this macro pattern...at...
I just don't see the bearishness on BTC? We have not broken any support structure on the weekly... bullflag breaking out at the moment. Currently just testing the breakout. RSI have broken bear structure weeks ago. Clear continuation of trend. If you bearish on a 5min TF... thats ok, but daily and weekly bearishness might get hammered. Close of weeklycandle below...
I have shared a possibility earlier today with a $200 target... but I have revised it to this setup... that is more plausible. The reason is that we work with diminishing returns on each cycle... The $120 target is more plausible with the help of the fib pitchfork channel. A break into the top part of the channel, with result in a $400 target. Highly unlikely for...
If we can get a nice pump above the midline of my channel... possibility is there to hit the $200 target. The midline shows some good respect on price action and gives a good indication of the validity of my channel. Getting above it might give us a good return. We are close to moving up. All little pullbacks are buy opportunities.
Nice distribution on gold in the making. Have been a long time since I have seen such a picture perfect setup comparison. Wait for the break of major support before shorting on higher TF.
The 4h swing is done in my opinion. We have broken upward trend support. Next move will have a short-lived move back up to create the lower high. Width of the channel breakout should bring us back to major support down under... to the tee. That should serve as good support... but long-term we have lower levels to go.
Doing macro TA on this pair... we can see that we are in a downtrend and should move towards the downside in the weeks to come. The harmonic pattern we in should guide us down towards that bottom of the macro wedge. This trade will be a nice longterm setup to add on pullbacks until we reach the bottom. Key is to enter small amounts if we go up in the next few days...
Nice place to short at the moment. See the price movement to come for the next few months. Keep on adding shorts on the pullbacks... and you will smile later on
See my TA on BTC for the next few months. Nice opportunities coming if you trade correctly.