After a failure in the last pattern called, I called it but I kept averaging down and am now in a good position for a long term run up to ATHs, I know everyone is calling for the death of Bitcoin, especially some of the top posters, these are for views not your benefit. Can we go down, sure! , Do I think we are going under 6k? No.
Take a look at the charts I will post and follow the updates and see why. Death Crosses, Bubbles and bear filled twitters tells me, time to get into position or get ready or miss the train. As already mentioned I am deep into my position with an average price of 7884, with buys still laddered down and USDT ready to go.
Good Luck and Happy trading mate.
G'day
Thanks for dropping by, hopefully you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.
Trader, Chart analyst and all round larrikin. Reside in NQ Australia, surrounded by Crocodiles, snakes & giant spiders, not to mention the boxing Kangaroos and devilish Drop bears. It makes my job quite hazardous but strewth mate, I love it.
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Main chart trend lines have skewed for some reason, it was originally like this
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Yes I use multiple styles of chart, simple and clean for trend and patterns and this one I use to try and find bottoms and tops etc.
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Notice when the 10 ema rsi crosses above the 20 rsi and the Willian vix finds a bottom in green we have confirmation of not only bottom but a good entry for a long.
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Hammer on the 1hr chart, looking good.
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Originally broke out of the falling wedge but formed a bear penannt and it looks like we may be headed to the bottom of the structure at anywhere down to 6k bottom.
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or as the Master of Triangles as recently put, a symmetrical triangle. lol. I guess with that large green candle its not really a pennant.
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Double bottom and a push out of the wedge, need to see how we close.
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Just remember we can fall all the way to 6 k before we break below this structure, double bottom is possible and should launch us back into bull mode, for a while at least. For the short term I am bearish as possible. Good Luck out there.