Yes, I know we're still falling. Yes, this 6900 zone might not hold, and I'm publishing this too soon. Yes, it would be better to confirm the bottom and reversal. Don't care. Despite the fussing and whining of some annoying and overly-anal trolls, my charts are not scripture, they're just pretty pictures scribbled by a cranky old cuss. And this one was too pretty not to publish. I'm not telling anyone when/where to buy, only showing what a bullish reversal could look like here. If you can't use your imagination then I feel bad for you :P
If this holds, we will have formed a sweet harmonic reflection, bursting the channel above and below only briefly for bull/bear traps, while oscillating within these parallel channels. Essentially (if not perfectly) we will have formed a double top and double bottom , two reversals framing the action beautifully. Throw a bullish and bearish Gartley next to each other and you have some decent chart art, suitable for framing ;)
Yes, it's too perfect. Real price action is never this tidy. The market will do something much less geometrically satisfying, and usually in the direction of maximum pain...
Trade closed manually
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Those following me in the chat already know I gave up on this scenario a few days ago when it was clear we were going too deep for this formation to actually play out. Instead, I've been following this fractal strategy, which is working out nicely (for the bears ;)
"The market will do something much less geometrically satisfying, and usually in the direction of maximum pain..."
I have to engrave this somewhere.
Darkside999
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I think we are going to 3k after small dead cat bounce.
kenzboard
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garbage. we are going to 4.4k
toaby
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you the man ron , just sold my wife and went all in!
the_sunship
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@toabyt, lol, now you gotta sell the kids for the 6k bounce to get her back!
Bullion_Money
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lol "overly-anal trolls"
hesswg48
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Pour yourself a glass of Scotch and watch the train wreck Ron.
rhb_3000
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That would like a grand resurrection which is near. Gloriousness too with the full blood moon broadcasting the event which precedes it first. Matches time of remembrance we are currently in...The cycles of life repeat this same story. Just witness then you will be a witness. Love
ChalifStorch
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for me the double bottom is not promising bullish, since it tests the basic uptrend from july two times, and this did not happen before in such short interval. And should this uptrrend be broken, the road is free to 4000ish.
the_sunship
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looks like lower, but I think we're near bottom. Last mega panic "holy shit" moment coming up....gotta love BTC
I have to engrave this somewhere.