DeadSerious

Three Drunk Bears Pattern

Long
DeadSerious Updated   
BITFINEX:BTCUSD   Bitcoin
If we fail to go up here

Have not seen this for a long time, but proportions might be just right so lets give this pattern a try
Comment:
easy to follow the move when watching 1hr cloud resistance. When we start entering the cloud we could fly much earlier. Until then, nope

Comment:
Breaking up right now so pattern failed. Back to the shark harmonic I had earlier

Comment:
but still better wait for candle close above this resistance zone, still struggling
Comment:
daily wants to print here a juicy green reversal candle
Comment:
Ascending triangle idea

Comment:
ascending triangle idea


also inverted H&S

Comment:
looks legit

Comment:
As you can remember I dropped three drive pattern idea earlier because price crossed my trendline and messed proportions but by looking at it now (after last price actions) am start thinking it still looks like three drive pattern to me as third bounce happened almost perfectly on the trendline. Rsi remains in this 4hr channel and got bounce also this might still be in play so lets see if we an get back above 6300 that could confirm the idea
Comment:
this is probably ending diagonal. Just not sure about micro waves. We might be lacking one wave down or we finished it already
Comment:
Ok I see why I had problem with smaller waves. Its not diagonal, its rather descending broadening wedge kind and this one seems completed

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.