This next drop should find significant support at the fib + previous resistance, now turned support, level. Depending on the strength of this bounce, we could see a run up to 10K... or just a big dead cat bounce down to $3.50...
o.o....
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This current drop showed a reversal in the lower time frames with a diamond / inverse h&S reversal, however it got stopped and retraced leading towards a Bear Flag being made.
Unless we break that resistance, we're most likely going back down to the target support area I earlier depicted.
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Bullish signs appearing on BTC... looks like a bounce incoming.
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Spinning top closed on the daily and we're seeing but volume come in.
You think that if you wish hard enough it will come true? You're predicting whole right shoulder...!
ksdow
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Market Not healthy!!!Market sick!! Platz senden doctor, thx.
jurepetrovic
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In the meantime, I'm playing with the following idea...
MuMPiTz
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@TheWolfofPoloniex "Bullish signs appearing on BTC... looks like a bounce incoming. " could you explain what these signs are? Just for educational reasons :) Btw thanks for sharing!
jurepetrovic
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@MuMPiTz, Maybe he was looking at Ichimoku cloud, which is getting thin?
These are all things I teach on my youtube videos. Go learn all of that and then use my charts to practice and see why you think I would come up with my TA.
Studies show that this style of learning / teaching (Montessori) will help you retain the information better, instead of being spoonfed.
TheWolfofPoloniex
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@TheWolfofPoloniex, oh. Also the ichimoku cloud, as jureptrovic pointed out
MuMPiTz
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@TheWolfofPoloniex, thanks! I will watch them. Whats your nick on YT? Couldnt find anything under WolfofPoloniex