Bitcoin: Falling Wedge Pattern

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
17768 14
Thank you for watching :)!
Comment: Thoughts about Demand and Supply https://coinlu.com/bitcoin-price-rally/
All charts posted are for educational purposes only - I don't sell signals or give any courses. Enjoy :)!
Could this be the beginning of 6100/6200 re-test

Forget about BTC, it's more profitable to trade the bounce on ETC.
You'd better post the screenshoted chart also. It's better for readers to read. Just saying :)
I think we are even higher, just the accumulation zone has been increased in time by the manipulation of market makers. Of course everyone has their own opinion, and only time will judge everyone. I think it will simply be a shadow on the weekly chart. Now the process is underway when new Bitcons are sent to the exchanges after eliminating long positions. Contracts worth $ 500,000,000 were liquidated on this incident wave on the Bitmex exchange, if you take the average leverage of 10x, it will be daily earning of $50,000,000. Now, at a price of $5400, the liquidation will be at $4700-4800, and this is a real possible level of incidence (and from the point of view of the wave principle, the correction wave -> $4700 is the last stop). Everything will depend on the positions recruited by the players, but now the situation is very good for the market reversal, as now is the time when you do not want to become long, and at $4700 the desire to take a long-term positions will be 100%.

And the main amateur of long positions removed on this incident wave. Will there be enough of them in the new game? My forecast for ETH-USD -11.29% is within normal limits. Technically, for the time being we can rise from the level of $5400 (5540 USDT) to $5700 (5840USDT) and go back to $5400, and then we will look the outcome of the end scenario.

abdullatrader Crypto-Adviser
@Crypto-Adviser, Thank you for sharing your thoughts. We could be in an accumulation phase. However, there isn't much information that Bitcoin is giving us as of now. The only problem with breaking the current support at $5,400 is the sideways trend (what we think could be accumulation) will turn into a distribution. This will take bitcoin to lower numbers, way lower from what I have posted - but I don't want to jump into conclusions without any actual data.

Best of luck :)
Been calling for a drop from the ascending triangle for a month now. In this chart I do an analysis on where the BTC bottom will be.

@alexcph, good
this is so fresh, wow. )))
@asgcorp, Thanks for sharing your thoughts :))
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