Updated Lines, the description updated in the old idea, too lazy to redo new one,
click link/chart below to see the history of progression and thoughts at the time of each update over the years, cheers =)
My analysis seems to indicate that this is a bull trap. Opening and closing a weekly above the line currently around price action probably will provide evidence to the contrary. If that is the case then the Parabolic will get even more ridiculous .
Otherwise it is likely going to test/retest some supports lower down and go into an accumulation phase, where the...
What are we in for?
Could this be the top of the market right now?
End of a market Cycle?
Maybe, seeing as the early warning signs are here. With similar structure to the previous cycle, at the top of a rising wedge/channel and the sell volume increasing... The signs do not look promising for continuation for sustained uptrend. The Market is always right,...
Crypto WILL be continuing this bear market until one of these scenarios are realized:
Still looking for violent form of capitulation over the next couple of months. The clean air area was never retested on the way up since BTC broke from accumulation into bull market. This makes it a likely area for an ultimate low as it is close to the top of the previous...
Looks like corrective volume, perfect retracement matching fib levels and trend lines. Does not line up with typical inverse shampoo pattern for continued upside. Stop hit will re-assess.
