Sharing this to later collect clout - Fractal based idea - Do or Die
Bearish harmonic bat at the top of a 5 wolfe wave. Could get ugly, real fast.
Lately been seeing Wychoff distribution patters that have the opposite beginning of the original pattern. This is supposed to be a reversal pattern where the prices comes down and paints this before reversing up. But the "new" Wychoffs start off the opposite and acts as an continuation pattern. Am I a bulltard? Maybe.
I copied the previous big move, enlarged it and used it as a forcast. The pattern seems fit and the rests of the low also coincide with S/R flips and the upwards channel.
NEXO's dissappointing way of distributing the annual dividends and the generic pump and dump to claim dividends has brought NEXO back below the S/R flip of 1300 sats. We spend the majority of late 2019 accumulating below that range, broke out of it early 2020 with a retest in May 2020. The current break of 1300 sats and test of 1000 sats is imo only temporary....
Or I might have oversized the last part of the fractal and something like this happens. (see linked idea) I'd give this a decent 40% chance of happening as this would be more bearish and we still have a CME gap sub 10k.
The fractal fits so well with the current price action I give it a 20% chance of pulling it off just because no one will fucking expect this and that is exactly why. Dont remember from which period I copied the pattern, dont @.
MEGA-BULL Not financial advice kappa klappa
Looking good, waiting on Weekly close around 2033 sats and start looking for the Target
Been watching ETHUSD just before the drop to $100. That drop marked the Spring in Phase C of the Wychoff distribution for me. The pump back to $108 - $110 confirmed the pattern by forming the LPS in Phase D of the Wychoff distribution. I will look for longs after a small retrace preferably to around lower $105. Would like to see: - Small retrace to the 50 MA...
Google Bearish Wolfe Wave and compare the pattern to the ETHUSD Chart on H4. ETH is already due on a retrace after almost a 100% the last couple weeks. Might give another final push to local highs or slightly above but I doubt it. Striped diagonal lines are possible supports aswell as the fibonaci levels. Tweet me @ZSNEEZY.
The trend based fib extension on the first bullish gartley(purple, ~june 1st till ~june 24) gave us the 50% extension/retracement on june 25/26 and the start of a smaller second bullish gartley (red, ~24 june till ~3 july). Things are looking good for a breakout on the bearish channel that started around ~june 6. First primary targets are the 61% on the trend...