Hello guys, here is my little view of the progress that a trader has to do before he can become a master of all trades. I think its splitted into 7stages, have fun to find out in what stage of trading you are :).
Ugly Megaphone Formation would shake all the 500$ buyers.
Normally we do like to do 3 drives. Thats why its called BUY CRY DIE Simple Sentence to that: People buy on BUY, they cry on CRY and they gonna DIE when they should BUY. So now bitcoin seems to want to retest the old low (150$) so we gonna test ist hopefully with somekind of AE Doublebottom. Thats why there is DIE ALREADY, and ULTIMATE DEAD ;)
At the end of the Volumetrendline we will see a big movement in either direction. (01.August) The direction will be defined at this point for the next 4-6 month. Now we have two possibilitys. 1) Three drive pattern is already done, good news overall (point X second drive?) liftoff at the end of the triangle 1000$ (i would preferr that way) If the three drive...
Bouncing from the downtrendline, -> hitting upper trendline @ 460-470 EUR -> completing downmove to targetzone 370 EUR