


XMANGO
BTCUSD - This probably won't happen... or will it?
Just fractal approach to a wedgy situation.
Mostly a game-theory-driven decision to go long right now. Everyone is using last April's recovery pattern as a general map. This will cause people to go longer earlier and provide larger support than back then. A slow ascent is quite possible here. Watching closely!
Here you can see two bubble patterns, starting in Nov and May. Still lots more down in the cards if this plays out.
...In case you haven't had enough bear charts! The books are very thin this past week. Seems we might be overpriced. China also seems to be pumping over and over with diminishing ability. 360-400 still recommend as cover range.
Everyone is expected another bubble, but the chart shows some corrections is needed before healthy upward pace can resume. I leave you with this: www.youtube.com
Here you can see some interesting trend and pattern analysis making a reasonable case for BTCUSD to test new lows for this cycle. Cover in 360-400 range.
Here you can see some fairly interesting patterns in the price and waves. This paints a reasonably likely scenario and setup for the next major up wave.
We're coming up on two opposing long-term trendlines. Market is scared to test either direction. This will resolve within 2 weeks with a break (upward, methinks). You can see I've overlaid a couple patterns of past bars, and established an upward channel.
This chart was made in response to a bear version by @anatolio
Bull Pennant Playing Out? Yes, I think so. Note that the current cost of mining a Bitcoin is $600+