BTCUSD SHORT/SELL MAJOR DROP INCOMING! Monthly CHART
Technical Analysis
1. Rising Wedge NOT COMPLETED (ALMOST!) on a 4 hours chart (Possibly completed when the market reaches 62-64k)
2. Fibonacci Retracement and Expansion to 1.618 completed (while forming a reversal pattern ( Rising Wedge on 4 hours) which indicates exhaustion of the market.
3. Monthly chart RSI overbought to the MAX! - As seen
My Re-entry is based on structure levels to the left, a larger Fibonacci Retracement level and projected the market to bounce of EMAs 60/200 (weekly) :)😁
Here's my projection.
1. Rising Wedge NOT COMPLETED (ALMOST!) on a 4 hours chart (Possibly completed when the market reaches 62-64k)
2. Fibonacci Retracement and Expansion to 1.618 completed (while forming a reversal pattern ( Rising Wedge on 4 hours) which indicates exhaustion of the market.
3. Monthly chart RSI overbought to the MAX! - As seen
My Re-entry is based on structure levels to the left, a larger Fibonacci Retracement level and projected the market to bounce of EMAs 60/200 (weekly) :)😁
Here's my projection.
Comment:
MAN I SAW MY RSI I MEANT OVERBOUGHT! Sorry Peeps
Trade active:
READY TO SELL?!
Comment:
The market has reached its final exhaustion. Let's wait and see if it falls back down or breaks out UPWARDS of our rising wedge. Should the market break out UPWARDS, we will be expecting it to climb the flagpole length. In which market would potentially climb to 80,000
Related Ideas
