I have been telling you for 2 months we are in a topping formation, so dont say I did't warn you.
volume divergences ETh/BTC Divergence Historical analogue points to bear reversal Head and shoulders pattern Fake out double top Bearish candlesticks on the monthly/weekly TF Supply zones being respected, demand zones being removed Key levels being respected Media hype at all time high Alt season over
I agree with you that indicators point to a top. What do you think about this looking like a consolidation pattern and not a top?
DavSab
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@DavSab I mean just from the look at the shape is it?
NinjaTradingServices
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@DavSab, The best way to know that this is the top is because we previously had a parabolic move into this high. Topping patterns are common after strong moves in price. Continuation patterns are usually triangles and reversals are double tops, head and shoulders etc.
Parabolic + Head and shoulders, not looking good for longs.
EraHCS
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agreed, been screaming it from the rooftops, rsi divergence also but mirrors volume divergeance, target one 40k, target two 30k. 30k is my head and shoulders target. the real signal for me was when my crypto sceptic brother from 2017 asked me what alts he shoulder buy a couple of weeks ago.
NinjaTradingServices
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@EraHCS, Nice, same here with family asking about alts ahaha. You dont even need to look at a chart, when people who have never been in crypto ask about crypto, its game over :)
D33WILLY
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When BTC just dumped, many alts kept strength. Is alt season over?
NinjaTradingServices
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@D33WILLY In 2018 they did so I'm assuming they will follow, that's what history tells us. See if they start dumping when ETH falls of a cliff. I'm in stables right now.
EraHCS
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@D33WILLY, trust me, that does not last, i fell into the trap of holding my strong alts in the past, they just got the memo late believe me
I agree with you that indicators point to a top. What do you think about this looking like a consolidation pattern and not a top?