BTC is currently trading in a falling wedge on the daily chart. This pattern typically breaks to the upside. Why would it go up now? Because people are expecting a drop to 8k or 7k. Bears will be surprised when BTC retests 11k. Silly bears, the market will not just give you money.
Trade closed: target reached
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BTC made it all the way up to 12.2K. I don't expect more upside from here.
I zoom all the way out (max). What are those green circles? 4.618, 4.236, .. to 0.236 Also what are those purple lines? Please let me know and thank you!
Purple lines form an ascending wedge which probably leads to lower prices. Orange lines form a descending wedge which probably leads to higher prices. The green circles are fibonacci rings. Bitcoin can ride up the left side of the ring, but when it crosses over to the right side, I expect the price to drop a lot. It did on the other green rings in 2018.
jayko.hernandez1327
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silly bears think this is a trap for bulls but the real trap will happen alot later down the line
these greedy pigs will all be slaughtered
transparent-fx
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appreciated your content, in the end we are all students of the market and learning constantly from it, i also give the best value i can to the community, i'm sure you would like it