bmrm98

bmrm98 Updated 

all 3 local lows have caught support on the daily 200sma, price is consolidating inside a falling wedge with good volume, rsi is confirming a breakout with multiple test/finding support of its own trendline. need to overtake the other ma's and top trendline of the wedge, if this occurs short term target would be around .30-.35

bmrm98

many alts following this descending wedge pattern, i expect bitcoin to make one more low then alt season to begin.

bmrm98

made this one for gold a couple years ago (click on it and look further back) and turns out its all coming true for bitcoin, buy the handle.

bmrm98

price has broken out of the previously forcasted wedge, found support at the 4hr bottom band, and rose to form a parallel channel. will be interesting to see how this plays out the next week or so. good long entry at bottom of channel, good short if breaks below, good long if we break the top of the channel.

bmrm98

this coins been going off pretty hard, with a low marketcap below $10mil and lots of dapp utility, an entry could easily rake in some massive profits. look for an entry at bottom trendline of wedge.

bmrm98

it looks like we are about to have fun again, its going to be a slow ride there though.

bmrm98

this could just be schizo rambling, but i've been watching this histogram pinch for years. we just tested and confirmed it as resistance. with the macd also being in a bearish wedge, and the price looking like it'll form the same pattern, i think there could be a good short if we break below support. there is a possibility for a popoff top still before the MACD...

bmrm98 Updated 

despite recent bullish momentum, we are trading within the original bearish wedge, and it looks like we are printing an interesting 2 week candlestick pattern right as the wedge pinches together. rsi is at 75% (highest since 2020,) indicating a reversal coming soon, i anticipate we will retest the ribbon wedge area around 28k, and then we will see how this pinch...

bmrm98

sorry for the lack of indicators, they changed free to only 2. that being said, this small rally after the ribbon pinch has not created any real breakout of patterns, if anything it could be looked as a retest of old support to confirm it as resistence before we move further (the orange wedge.) especially with the fact there is no real turn around in the stock...

bmrm98 Updated 

things are getting fast, i think we consolidate shorterm in this bullish wedge then continue breaking on to new highs, the way the news has been its anyones guess what happens next

bmrm98 Updated 

all signs point to a reversal, yet CNN is headlining that we are in a bull market. be careful with your money over these next few months.

bmrm98 Updated 

just an update on my last chart of this. last time we were at the bottom trendline, now we are at the top.

bmrm98 Updated 

no one can know the future for certain, and there are clearly many possibilities here, but i do not believe that the current price can be substantiated on how little volume we have.

bmrm98

everything you need is drawn on the chart. i think it is very evident that the entire market is going to take a steep move down.

bmrm98 Updated 

our most "bullish" scenario would involve the first retest (and based on the stoch, likely denial) of the 100. i think thats a definite possibility, usually when stocks sell bitcoin goes up a bit before coming down with them. a denial of the 100 would be a really strong indicator the bottom isnt in.

bmrm98 Updated 

caught the 50/20 area as support, and indicators look primed for a turn around.

bmrm98

things have been sideways for a little bit now, that pinch on the macd bars indicate a big move is a coming, im betting on the downside.

bmrm98

been watching this play out for awhile, we're being rejected from the top trendline on the day chart currently.