Houston! We have ignition, but not lift-off. We lost thrusters!
Today we had an ignition without much of a lift-off, and we lost those thrusters somewhere along the way. Elon is furious and sends his regards!
Currently we have found support on the bottom red channel line of the elephant in the room "the alleged wedge that's not to be spoken of" and are hanging by a thread.
1) Breaking 11190 will invalidate wave 3 in 3 in 5 (subwave (iv) goes past the end of subwave (i) => not a trend).
It could still become a rising wedge (i-ii-iii-iv-v) => (abcde) and go up a bit more just to break down in a few hours. Or it could trigger an immediate sell off/correction down to 11065.
2) Breaking 11065 will invalidate the whole wave 5 of the up trend (wave iv enters the territory of wave i => not a trend)
the whole 1-2-3-4-5 up trend since 6000 up to now => WXYXZ complex correction structure
It could still become a huge rising wedge i-ii-iii-iv-v => (abcde) and go up a bit more just to break down in a few hours.
Or it could trigger an immediate sell off which may ultimately lead to the collapse of the Bitcoin's House of Cards.
3) We could still try to climb up but we don't seem to have enough volume, have bearish RSI < 50, RSI divergence on M15, M30, and we are below EMA 50.
We have tested the upper and down channels of a huge possible wedge (red channel lines). Which is also bearish and will break down soon if confirmed.
Elon would only consider the wave 3 launch successful upon reaching the conservative target 12000.
Only a miracle can save Bitcoin. And I do believe they exist in crypto. The pump fairy will come just in the right moment. That's probably part of the plan - to shake some more bitcoins off of weak hands. The show's not over.
And what do you believe in Mulder? The Truth or what you believe in?
You should also know that "huge wedges" on large timeframes are the Yeti of crypto. They practically don't exist, only a few chosen ones have seen them.
Please, be careful and don't trade based on my analysis only. The author of these lines may or may not be a real trader, merely a Cheshire Cat that appears from nowhere with a smile.
This is not a financial advice. Do your own research. I'm not responsible for your losses. Take care.
Currently we have found support on the bottom red channel line of the elephant in the room "the alleged wedge that's not to be spoken of" and are hanging by a thread.
1) Breaking 11190 will invalidate wave 3 in 3 in 5 (subwave (iv) goes past the end of subwave (i) => not a trend).
It could still become a rising wedge (i-ii-iii-iv-v) => (abcde) and go up a bit more just to break down in a few hours. Or it could trigger an immediate sell off/correction down to 11065.
2) Breaking 11065 will invalidate the whole wave 5 of the up trend (wave iv enters the territory of wave i => not a trend)
the whole 1-2-3-4-5 up trend since 6000 up to now => WXYXZ complex correction structure
It could still become a huge rising wedge i-ii-iii-iv-v => (abcde) and go up a bit more just to break down in a few hours.
Or it could trigger an immediate sell off which may ultimately lead to the collapse of the Bitcoin's House of Cards.
3) We could still try to climb up but we don't seem to have enough volume, have bearish RSI < 50, RSI divergence on M15, M30, and we are below EMA 50.
We have tested the upper and down channels of a huge possible wedge (red channel lines). Which is also bearish and will break down soon if confirmed.
Elon would only consider the wave 3 launch successful upon reaching the conservative target 12000.
Only a miracle can save Bitcoin. And I do believe they exist in crypto. The pump fairy will come just in the right moment. That's probably part of the plan - to shake some more bitcoins off of weak hands. The show's not over.
And what do you believe in Mulder? The Truth or what you believe in?
You should also know that "huge wedges" on large timeframes are the Yeti of crypto. They practically don't exist, only a few chosen ones have seen them.
Please, be careful and don't trade based on my analysis only. The author of these lines may or may not be a real trader, merely a Cheshire Cat that appears from nowhere with a smile.
This is not a financial advice. Do your own research. I'm not responsible for your losses. Take care.