Bear Flag after Bear Flag, within a Descending Wedge
Not financial advice, just having a cheeky look at what history has been up to, and seems to be doing again.
We look like we are in Bear Flag #5 which Ive been talking about for while, and we are approaching the 50 EMA (red wiggly line), that we keep getting rejected at.
Coincidently, this is also at the same place the candles keep testing and failing against the down trend.
Fortunately, the current + last 2 bear flags look like it is forming a potential descending wedge, which generally means the chance of uplift at the end.
This all ends around historical support, and the very first uptrend that I ever drew back before "the mooning" we had at the end of last year.
I'm not telling people what to do, but more drawing and labelling everything that I personally see so you can have a look and do some research on it yourself, and you can make an informed decision on your situation.
I do feel that 5200-5400 is more than likely on the cards before we start to see a recovery.
Feedback is more than welcome.
*Reminder this is purely for educational purposes, and should never be taken as express financial advice.
We look like we are in Bear Flag #5 which Ive been talking about for while, and we are approaching the 50 EMA (red wiggly line), that we keep getting rejected at.
Coincidently, this is also at the same place the candles keep testing and failing against the down trend.
Fortunately, the current + last 2 bear flags look like it is forming a potential descending wedge, which generally means the chance of uplift at the end.
This all ends around historical support, and the very first uptrend that I ever drew back before "the mooning" we had at the end of last year.
I'm not telling people what to do, but more drawing and labelling everything that I personally see so you can have a look and do some research on it yourself, and you can make an informed decision on your situation.
I do feel that 5200-5400 is more than likely on the cards before we start to see a recovery.
Feedback is more than welcome.
*Reminder this is purely for educational purposes, and should never be taken as express financial advice.
Don't forget this is never financial advice, simply some ideas thrown around for discussion and contemplation.
Always check your your own charts, like you check after sharts
Always check your your own charts, like you check after sharts