DrJLT

BTC falling wedges possible reversal

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Very simple idea. Two falling wedges ; the first fake out was reversed, we have a second chance now.

Two scenarios:

1. breakout from the falling wedge & retest of 9k
2. continue in the short-term channel toward 7.5k & 7k. demand will be increasing as price falls, so I don't expect new lows.

people are selling because in the past several Sundays price had fallen every time.

that is a coincidence.
Comment: probably wasn't clear --- I think s1 more likely.
Comment: We have two green candles on the 4h chart now. Over 8.5k we're safe.
Comment: I think after we failed 9k, BTC has gone back to the accumulation zone I mentioned in my previous post. There's no dramatic 6k or 10k scenarios immediately before us.

Comment: probably should've written: no obvious dramatic ... scenarios in front of us.
Comment: retest of 9k is likely
Comment: wow, really jumped in the last 25min
Comment: bull flag.
Comment: Going up but a rising wedge is forming w/ apex @ 9.5k

Most likely will follow my original post (last post): 9.5k -> fall to at least 8k.
Comment: failed 9k again. should bounce @ 8.2-8.3k
Comment: I actually see a rising triangle potentially forming soon. I posted the details on my YouTube channel. I plan to post daily FA & TA videos there.
great job!
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thanks for the updates doc
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still trading within range could be a false flag too
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Yes Sir! Lets go 9k!
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thanks for the updates
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thanks for the update might creep out of cash for a bit but i'm pretty ursine atm
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Looks like you were right again doc. Still sitting in cash. Still feel like there's one last dip short to medium term but thanks for all the hard work ;-)
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it was clear doc ;-)
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Or it will make a nice H&S and aim at 5K :-/
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Doc-al-Citadel christophelorenz
@christophelorenz, took the words right of my mouth, the fact he doesn't think it is the only thing tempting me to buy a bit. But for once I think i'm gonna have the courage in my convictions. He did call 5k ages ago tho as u probably know.
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