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Jocoin
Oct 25, 2019 5:18 AM

BTC: Falling wedges - Bear Market Continuation!  Short

Bitcoin / U.S. dollarBitstamp

Description

Breaking daily 200ema at 8700 was a turning point where i had my stop loss which was 1st sign supporting my alternative view for B correction wave instead of a new bull run that i like to share today.

B wave top was in the form of H&S as well as reversal descending triangle, where RSI had printed bearish divergence.

BTC in the past days has formed a bear flag where i shorted last 8300 peak targeting 6200 and that was 2nd sign after flag brokedown.

Long term bear market since 19k ATH that could take longer than 3 years in my opinion in the form of ABCDE correction .. Beaware that 2k could be the final bottom!

Comment

BTC: Falling Wedge OR Descending Triangle?

My primary bullish view could still playing - I think we got falling wedge breakout with volume .. next daily candles will confirm which direction btc will take
Comments
tearliner
i remember this guy being bullish in 12000-13000 range now he is bearish lel the bottom is near.
Poukitoun
Lol
RobertheBruce
what about halving, what about new quantitative easying by fed?
UnknownUnicorn3631192
Wow, it is an excellent chart!
Jrdelane
Makes sense to me, I am sidelined now, no position.
ultranemesys
NOT
BlackM00N
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