If this was to take place, it could be counted as a completed third leg in the wedge which I've been discussing recently.
I'm really not satisfied with the price action over this last week; and it really does look to me like a phase of re-distribution -> which is why I've put myself on the sidelines for the time being.
Until I can conclusively eliminate this idea, I'll be 100% cash.
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w5 target = 24k.
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ps. i have this little indicator which has been calling out every single top in this downtrend.
Whenever it clusters the way that it's doing right now, it has led to a fairly large descent in the days which followed.
✌
I'm really not satisfied with the price action over this last week; and it really does look to me like a phase of re-distribution -> which is why I've put myself on the sidelines for the time being.
Until I can conclusively eliminate this idea, I'll be 100% cash.
----
w5 target = 24k.
----
ps. i have this little indicator which has been calling out every single top in this downtrend.
Whenever it clusters the way that it's doing right now, it has led to a fairly large descent in the days which followed.
✌
Comment:
might see more chop before it breaks, considering how intense the chop has been thus far.
Comment:
the last two times this signal popped up, btc got dropped pretty hard.
currently starting to print.
i give it another day maximum before it flops
currently starting to print.
i give it another day maximum before it flops
Comment:
good chance it raids the range highs, to stop out the shorts. expect it
Comment:
it could also get a bit more complex and chop around until the new moon which will appear on the charts on may 30th.