SpawnyXBT

SpawnyXBT

3 Drives Top 1H is ready for a bigger drop.

SpawnyXBT

We have a big bear pennant that can be saw on 1 Week , 3 Days , 1 Day & 12H. On top of that, we have a Head & Shoulders perfectly created Enjoy trading this pattern.

SpawnyXBT

We had this before on lower time frames with amazing success. It looks like this Head & Shoulders Pattern is ready to unfold. Now usually the volume on bearish H&S is very low and that seems to be confirmed. But also the probability of H&S patterns to unfold have an 60-70% success rate.

SpawnyXBT

As you can see we have a Bear pennant set up for 1Week movements. The resistance was tested for 4300$ area without great success from BULLS. So the area transformed itself into a consolidation area for the next BEAR-RUN. That was technical. Fundamentals for the upcoming week: No BAKKT & New date set soon to be announced. Due to Federal Government...

SpawnyXBT

Longs have TOP-ed out. Shorts have BOTTOM-ed out. Usually 90% of cases these will go each in opposite direction very soon. As Long-ers are caught up-there since 4xxx$ levels currently are on NEGATIVE. While Shorte-rs are playing the small swings until a good opportunity arises to short after this weak BULL performance.

SpawnyXBT

So far in the past days the RESISTENCE NO.1 Line holds strong against bulls with strong reactions. We will continue the downtrend and move far from 4000$ levels into lower 3xxx$. Possible break of 3200$ support area next week. And Sunday a major breakdown.

SpawnyXBT

As something cannot go up without gravity. Same goes for going down without a pullback. Currently we experience a small pullback after 500$ drop in Bitcoin price in just 3 days. Retail bulls are excited while Whale Bulls are closing their longs were they were locked down since 4030$.

SpawnyXBT

As we can see the bulls reactions is weak as most of their capital is stuck at 4000$ levels without the possibility to top-up as they might risk a lot of their capital doing so. They are shy and fearful. After their small reaction is finished in next 4 to 8 hours we will see a continuation from bears. By the looks of it seems like a couple of bull-whales caused...

SpawnyXBT

So far seems like there is a build-up for the next breakdown. The Bear flag has been broken in "down" direction. We had a "reply" from bulls yet extremely weak and support is weakening down while they try to increase the price without success it has becoming extremely taxing for bulls. It also has the possibility of "bart" upwards up to 100$ which would bring...

SpawnyXBT Updated 

COINBASE:BTCUSD Is acting as always in algorithimic patterns. So far I see similar construction from the first breakdown. Making me lean to another breakdown making a "BART" Simson on macro chart of 1week.

SpawnyXBT

It might spike for 4050-4060 in an attempt to wash trade the shorters before making any real move. But it is extremely close to happen and create a big candle down. Mostly in 6hours from now.

SpawnyXBT

So far it looks like a H&S Forming up. It usually is the worst type of formation, as has a 60% validity on any markets. But will see how it develops.

SpawnyXBT

3 Dives TOP with Massive Rejection on Last TOP is my favorite. Also the massive rejection result the fact that weekly 24 MA is holding like a BOSS without sweating it. Enjoy the shorts my friends.

SpawnyXBT

Lets have fun :) H&S. Because everyone drew the inverse one.

SpawnyXBT

Another failed pump by Bitfinex, the mafia exchange, the high money launderer's exchange. Has pulled off another dirty wash trade of theirs. It will end up like the rest of others with a big failure. Lets see how this 3 Dives to TOP with HUGE REJECTIONS on their Wicks plays out. Most likely they will forced out to the maximum all their indicators on small time-frame.

SpawnyXBT

I think now was the last true TOP. From which will deflate this extra-pumped price with Fake Volume out of Bitfinex USDT. . Well done for bears that stayed out as I saw Shorts were low and dint jumped out at every spike. Now LONG's are trapped and IN-PAIN.

SpawnyXBT

BITMEX:XBT is being a feisty little bastards trying to take-out the majority of its shorters on its way down. You know the old school Wash & Rinse? You can watch it now, fake volume pushed too the limits of no volume , everything deflating like a bubble all over again. Sooner hopefully then later as then it will caught many "Buyers" that we will need when we...

SpawnyXBT Updated 

I hope now the neck is better for every other analysts around. As I got critiques that even if the Inverse H&S in my point of view is extremely steep and forced out. I used the same basis in creating the regular H&S. Lets see how it plays out.