This could be the best idea yet. Massive falling wedge, hitting resistance on the top of the wedge and creating a bear flag in my opinion and also in distribution on the 1hr time frame. Price could tumble and tumble quick in my opinion as price gets closer and closer to the wick low and insane panic would happen (lol) and price plummets but only for so long until it finds massive support on the 1.618 Fibonacci retracement form the 28.8k low to 69k. It would also, if held, be the spring in Wyckoff Accumulation. Price could have a mad bounce and break back inside (if price breaks out of the falling wedge) the falling wedge and eventually price should breakout and wherever it does you get your falling wedge target. The 0.618 fib retracement isn't 100% accurate as I calculated it based on the assumed exact bounce at $16,783.72 which price may break below of course with the volatility. Potential head and shoulders could form as well indicated in the small red lines I drew on the daily time frame.
Transaction en cours:
SO FAR SO GOOD!!!!! We must see BTC break back inside the trading range above 19k and we will see from there.
Commentaire:
Found this, i suggest you checkout my main post on this for BLX
