bmrm98

bmrm98 Updated 

we moved down to the bottom of the wedge as i called at the top, now my question is will we go lower? indicators have barely budged despite the price decrease, time will tell.

bmrm98 Updated 

wedge breakdown on stoch correlating with rejection of top trendline, only logical outcome.

bmrm98

in the short term, we will likely be testing the daily moving averages as support around 19k, once those fail next level of support is around 15k, after that is discovery, check out all my other charts calling the same thing for other info

bmrm98 Updated 

this recent bullish momentum is unsustainable, we are extremely overbought and the price will react accordingly soon.

bmrm98 Updated 

linking to the post with the most important info and links

bmrm98 Updated 

i think its quite clear that this recent rally is nothing bet a dead cat bounce. the price will not last at these levels, i truly think we could go as low as 8-12k, but in the short term we will like be stopping around 18.

bmrm98

we havent touched it yet in price, however we have been rejected by the weekly 200 on marketcap.

bmrm98

all signs point to the wedge having officially broken down and the price to return to the MA range (20-18k, can only include 3 indicators on free)

bmrm98

as you can see, there are many signs showing a potential bearish outcome here.

bmrm98

the chart says it all, also this is the first time in over 14 years that the 20 sma and the price have moved below the 200. things are going to become very quick very soon

bmrm98

despite the recent rally, i still have an overall bearish outlook until we can reclaim this .618. as you can see, it has been tested twice before, if it is rejected for a third time the price will probably return to new lows within a couple months.

bmrm98 Updated 

outlook hasnt changed much from last week, the rejection of the .236 and moving averages is more definite now, meaning a likely retest of the local lows. i wouldnt be surprised if we start testing 12/13k within the next month. also the green bars on the weekly MACD is printing a head & shoulders.

bmrm98

i truly think we are slowly bleeding, i wish it was as quick as a crash but it has seemed pretty drawn out.

bmrm98

looks like there was market manipulation near the end of the called wedge, likely for whales could exit a position or enter a short. i still expect the breakdown wedge target to be hit, which ironically lines up perfectly with the already set bottom, and i expect the price to continue its step further towards 10k. the price has been rejected from multiple fib...

bmrm98 Updated 

could lightly bounce off the 20 one more time, but i expect the price to fall below it soon. lower highs on rsi while higher prices is bearish divergence, the wedge target is around 15k.

bmrm98

i expect the price to, at the very least, come back down to the bottom of the wedge around 14k, and if that fails as support 10=12k area.

bmrm98

just an update on my last post, looks pretty solid to me

bmrm98 Updated 

indicators are maxed out in their channels. yes, this dip has been pretty big, but i dont believe a low will be in until around the end of January. i still anticipate sub 10k bitcoin.