Back in June 21st, I shared this idea on the similarities between accumulation and distribution and possible failure points.
There were two points of possible failure. We have just passed the first one, however there's still a chance for a breakdown. Don't forget, we have not yet exited the trading range, so we could still go both ways.
I'm expecting lower highs and a descending triangle formation. We can still break this triangle in both ways.
Note that a spring in phase C is not required, but is a possible move. I didn't include a spring here, use your imagination.
PS. I'm publishing my ideas based on my position not yours. When i post a short idea, i'm not telling you to short now, i'm telling you i'm short and i could be short for a long time before i publish this post, which i am. Take the time and educate yourself on technical analysis. I've created a free resource page for this: https://bit.ly/2UOLwsW Do your own research. I'm not providing financial advice.
I got in BTC about beginning of Feb, laddered in up until the top, with 4 BTC and thank goodness broke even on the way down. I have been reading your idea's for about a month and they make more sense then most other peoples ideas. Please keep it up, your views are REALLY!!! Needed!!! Thank YOU!!!
Hello! Looks perfect, as usual. I don't feel spring, I feel manipulation before futures expiration and financial statements of some companies. Looks like statements were published already. We will go down very fast, as on the last rise (short squeeze) there were no volumes. p.s. also feel a genius game on empty Binance's futures order book ;) Magnificent! Wish you joyful trades and good nights of sleep :-) Thank you!