Hello and good evening. I'm a beginner trader and just noticed something I thought I'd post about. While everyone has been mentioning the Inverse Head & Shoulders, i'm busy taking the contrarian view and am staring at the bear flag currently in the works. I think long term, shorting provides the best opportunities for gains. This is not financial advice, just my opinion. Let me know if you agree or not with my chart and if its possible.
Comment
⋅
Looks like a bart move has been completed. There is resistance around 3780 and 3690, so im expecting some pit stops along the way with slight pullback, but once through those it looks as if there isnt much resistance until we test lows set in december.
Comment
⋅
Upward price movement was rejected per the 500 point move down further validating the bear market. Currently we have a double bottom move in play and with sideways movement i'm expecting a 300point move to the downside to occur in the coming days. Stay tuned for updates and leave a like if you agree!
Comment
⋅
300 point move was made and now we should expect a selloff in the coming days or week to retest previous lows of $3100 range
Comment
⋅
We failed to double bottom and now it looks as though we have a nice 300pt move. I will be entering my first short around 3850 and look to add at 4200 and 4500
You are right. Probably a bear flag that will have to bounce to the 4,500 and 5,500 levels. Do you see an ascending triangle inside the bear flag? Cheers!
CryptoJosh5555
⋅
@Robertus, Thanks for your input i do see an ascending triangle, but i am not sure if this is the triangle you're referring to, but target seems to somewhat lineup with the 5500 levels. Hope this helps!
CryptoJosh5555
⋅
CryptoJosh5555
⋅
Thanks. So im guessing that we need to go to $4.8-5.2k range and then it will become textbook.