Harmonic, falling wedge. Critical areas. Just an idea on how one could size up risk from this area.. Although it may be smarter to wait for a confirmation low, either double bottom or higher low as an entry closer to .32 or above would be more ideal. Breakout from the wedge and current range would be getting back above .44 Bullish divergence on daily.
From rational to moonboy blowoff top. It's almost time. May get some more consolidation, bitcoin boring people.. it's the weekend.. but here's your targets. BTC.D had a nice bounce too, when the alts start getting drained while bitcoin is climbing it'll be time.. Lets see how we handle .786 retrace (61k) and other areas. Watch for fakeouts and shakeouts.
Rising wedge failed to break to upside twice, we have a stronger breakdown with a break, hook, and go. Bearish Butterfly with 3 falling peaks at the pcz kicked us through and out the other end of the pattern. 3.618 macro fib and almost no higher. On the 4hr if we continue down we can get a deathcross between the 55 and 200 moving averages. ~51k for full...
If my analysis is correct and TA is respected, we are rounding out and confirming a new area of support before liftoff. We've grinded this area for over a month now (coming up on 2 months) since the Feb 20th Resistance was established and there is a change in behavior at our current level compared to when we had our false break March 13th. I've included the...
Forgot to include daily divergences and bullish crosses on indicators
During this consolidation period at 50k we've had (2) Bullish ABCD's and (2) Inverted H&S smaller patterns occur while making the larger pattern (which appeared to be Cup with handle) or I see it more as an ascending triangle - either way, doesn't matter, but have similar measured moves with the hugely confluent area between 67-69k. There was even a bearish shark...
If it comes up to the LPSY and then dumps will be confirmed. For now in the short-mid term DXY is definitely on it's way up to $95-97 range. Hence why I'm tagging this as neutral instead of SHORT (which would cause confusion as right now, unless you're looking at the larger picture.. DXY is appears to be in an uptrend.
Keep in mind this is on the weekly/larger time-scale and the swings and differences can be in the hundreds if not thousands. But while others are gearing up to be bearish right now I'd like to give this bullish outlook and confirm some historical changes that have occurred and what we are looking for next. #1 breaking above the long-term supply-line/resistance...
We are currently in the BU Back-Up and LPS (last point of support) after our SOS (sign of strength), which validated the spring. Just remember "Large operators always test the market for supply throughout a TR" "SC—selling climax, the point at which widening spread and selling pressure usually climaxes and heavy or panicky selling by the public is being...
Bearish shark up to 14.6k, get our pullback and if we hit the 50% retrace and backtest the macro pattern we broke out of, could reverse for a Bullish 5-0 . Just something to ponder.. good idea for targets upcoming, as well as where a great entry will be in the future. Remember this is on the weekly & we are in a bull trend where Bearish patterns have been...
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