stanosky

stanosky Updated 

The chart above is self explanatory. You can see three very bearish patterns: a rising wedge a descending channel and possibly a giant inverted cup-and-handle formation While I don't believe bitcoin will break out of the downtrend channel, I allow for the possibility of a false breakout up to the upper edge of the rising wedge or slightly above. If this...

stanosky Updated 

I think that from this point bitcoin will start to fall sharply downward. The bulls have lost their strength and vigor. They are tempted to take the forbidden apple like Eve and Adam in the Garden of Eden. I'm not a religious person, I just like sinister stories. This is not financial advice.

stanosky Updated 

Usually a megaphone formation is a trend continuation formation. This time, however, it appears to have been invalidated by a sharp downward bounce from the upper edge of the trendline while attempting to break through it in the last, fifth swing. Given the bearish divergence on the daily and weekly RSI, I believe that we are in for another big drop in the coming...

stanosky Updated 

It looks like bitcoin is slowly finishing forming a diamond pattern on the daily chart. If I am right, we will see a reversal of the trend back to bearish, as I predicted in my previous analyses. This is not financial advice.

stanosky

I'm not bullish by any means, but I can't ignore the formation that is emerging in the four-hour time frame. I think we may see one last leg up before the final capitulation. This is not financial advice.

stanosky

As you can see in the chart, Bitcoin has most likely just formed an inverted Cup and Handle pattern. This means further declines. This is not financial advice.

stanosky Updated 

Bitcoin has formed a rising wedge (yellow) on the four-hour chart, and it looks like a retest of its lower edge is currently underway. But the attractions don't end there! If you look closely, you'll see that this yellow wedge is actually a re-test of an even larger wedge (green). Just zoom in to see the bigger picture! This is not financial advice.

stanosky

This post is for fun rather than seriously. However, be on the lookout, I think bitcoin will fall hard in the next few days. This is not financial advice.

stanosky Updated 

Although I'm not sure if this formation is valid when there is a sideways movement, I think it makes sense given my earlier bearish forecast. This is not financial advice.

stanosky

As you can see in the chart, bitcoin has formed a huge bear flag on the monthly chart. Such a long pole means only one thing... new lows. This is not financial advice.

stanosky

However, I thought it wouldn't hurt me if I interspersed my bearish forecasts with some bullish ones (for balance). I drew an inverted head-and-shoulders formation on the weekly chart. As you can see, bitcoin is having trouble breaking through the neckline. However, if the price jumps it (and stays above it), it will be a very strong bullish signal....

stanosky Updated 

The target should be somewhere around $29100. This is not financial advice.

stanosky

…but only above the white line. Today I have a rather obvious chart for you. As you can see, bitcoin has formed a downward channel. Yesterday the price touched its upper wall for the second time. There is also a white trend line on the chart, which has been respected by bitcoin for many years. Currently, bitcoin is slightly below it. Until the price jumps over...

stanosky Updated 

The structure that bitcoin has formed on the daily chart can be considered in various ways. Some see a descending wedge there, others a bullish flag. To me, it looks like a descending triangle. If we check what its projected target is (yellow arrows), we can see that it coincides with the red line drawn by the fixed range indicator. This gives a rather strong...

stanosky Updated 

I usually do not trust forecasts made on low time frames. They are often subject to the error of a larger pattern. In other words, they are not always what they appear to us to be. That's why I mostly make charts on 4h+ charts. However, I sometimes make exceptions to this rule. As you can see above, it seems to me that 3 intersecting patterns are forming. As for...

stanosky

My wedge brings traders to the yard, And they're like, 'It's better than yours.' Damn right, it's better than yours. I can teach you, but I have to charge. My wedge brings traders to the yard, And they're like, 'It's better than yours.' Damn right, it's better than yours. I can teach you, but I have to charge. I know you want it, The thing that makes the...

stanosky

Probably no one noticed it, but bitcoin has formed a diamond formation on the daily chart. This rare pattern indicates a trend reversal. This is not a falling wedge my dear bulls. And the above is not financial advice.

stanosky

In the realm of shadows, where darkness thrives, Lurks the Reaper of a market's demise. A grim harvester, wielding a scythe, Feasting on fortunes, his cold, ruthless drive. He emerges when chaos spreads its wings, When Bitcoin falters, and panic sings. With icy touch, he reaps and steals, From those whose dreams his presence reveals. The Cryptic Reaper, with...