A convincing reversal, or down to 10K? (old coins in control)
My thoughts here.... there is a small falling wedge nested locally within the large falling wedge that forms beginning 2021.
If price dumps here to more convincingly fill out that little wedge, then pumps to around 18k and back to around 14.5k it will have made a convincing broadening bottom and tightly filled the end of that biggest wedge.
I do see there is divergence in RSI, however, if you recall 2021 bottom, we experienced divergence for months before it finally resolved.
perhaps if we see this pump toward 17.5, instead, perhaps that's immediately followed by even larger dump...
is 10-12.5 still a possiblity? ABSOLUTELY
I was amazed during previous cycles no matter how many times you think the price can never go below a certain level, it can.
Yes, there are large corporations buying up bitcoin... but they've been buying since the top, all the way down.... including many big purchases since before this most recent big SBF dump
nonono.. the big old bitcoin money they have control now, it will end when they say so, lol
If price dumps here to more convincingly fill out that little wedge, then pumps to around 18k and back to around 14.5k it will have made a convincing broadening bottom and tightly filled the end of that biggest wedge.
I do see there is divergence in RSI, however, if you recall 2021 bottom, we experienced divergence for months before it finally resolved.
perhaps if we see this pump toward 17.5, instead, perhaps that's immediately followed by even larger dump...
is 10-12.5 still a possiblity? ABSOLUTELY
I was amazed during previous cycles no matter how many times you think the price can never go below a certain level, it can.
Yes, there are large corporations buying up bitcoin... but they've been buying since the top, all the way down.... including many big purchases since before this most recent big SBF dump
nonono.. the big old bitcoin money they have control now, it will end when they say so, lol
Comment:
tempting to think the H&S is complete here... but I'm not going to ape in.. waiting for confirmation this isn't just another fakeout... lets see what really happens at this china covid newsconference today... that can be a total misdirection this entire pump has built upon
