The is an "Adam and Eve" bottom pattern on your chart as well as a confirmed breakout of the pattern. I think it's more than just a rookie mistake.
platinumestates
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@Kwa, It can be a lot of things. But one thing is clear, this 38.2 needs to resolve, at it is the 1st stop. If it does continue downward after this short squeeze ends, then your A+E isn't correct. They're all hypothesis' for taking a trade is all sir.
platinumestates
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@Kwa, Here's scenario 1 - AB = CD will launch it back down to a) Point of Control and b) a daily gap candle (93% chance it gets closed)
Scenario 2 - the market continues back into a rlz short area, then that ab = cd will go into a 127 extension which is a likely scenario before pivoting or stalling then going down
BitcoinBearSlayer
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@platinumestates, Wanna put some money on it? If the BTC price closes at or below $2000.00 by the close on July 1st 2019 I'll send you a tenth of a bitcoin. That's at least $200 bucks right? If doesn't, you send me a tenth of a bitcoin.
Now that proposition gets me excited!
platinumestates
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@Kwa, That's a stupid bet on my part, there's no asymmetrical risk/reward, and that's just a projection line target, which could take months to play out. Why would I give you so much potential upside and me none? I can see you're a gambling trader sir.
BitcoinBearSlayer
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@platinumestates, It's your chart, your prediction, etc. not mine. I just wanted to see how confident you are in your own TA. Apparently not so much. No big deal, just checking.
platinumestates
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@Kwa, Confidence and being stupid by putting myself in a losing position are not mutually exclusive it would seem