BTCUSD : weekly. descending wedge

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Target zone :

or more aggressive variant. But this one include all indicator going so low and deep that we would end up entering guiness world record book for the lowest indicators ever recorded :

Overall check if break out :

And here i show you how i can draw beautiful lines :
Trade active:

seems to have found a support at projected lvls.

We are now in the most oversold state of the BTC history. November 2018 is the deepest ever recorded for BTC.
Trade active: the next area if we broke this support is in the upper 3k :
Trade active: if i trick the spike of the A (see green circle) it gives us a target reach for the abressive retracement.

The fifth wave is clearly present. The question of extension of the waves can still in be place. The bottom will be indicated a a huge rise in volume (what we have here) at support trend line. The rise in price is still not present. We need a sharp rise in price with a huge volume to confirm a recovery :
Comment: i spotted an inv ABC that might take us to 5.3k in this post :

For now we landed on my most agressive 1.618 extension
I co-sign this chart buddy. I think this is now clearly the path. Breakout Q1 2019 I would say?
Kgear117 Kgear117
I guess I have to ask though, what do you think the chances are we break that bottom trend line? Do you think we hold it? Or just wick through?
@Kgear117, i will be back home tomorrow. Will able tp answer properly once there
@Kgear117, which bottom trend you talking about ? Im kind ahesitate on wihich one you refer to
Kgear117 SimonMercier
@SimonMercier, lol, I meant to respond yesterday afternoon but got busy with the kids at home. Since then, the support I was talking about broke. haha. (Im still following this idea)
@Kgear117, loll xD
+1 Reply
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