Hello friends. This is the bear case for crypto over the next weeks, which will battle against our bull case previously posted. Looking at the Bitcoin chart, the bear structure is kind of deformed, but we just noticed that when we look at the Total chart, the leading diagonal lot more clean. Regular followers will recognize this as a potential 1,2 1,2, and we have important rules for these. The smaller sub-degree cannot elape more *time* or *price* than the larger degree, so we have red lines set up in both time and price for the invalidation of this idea. Knowing when you are wrong is a powerful tool to prevent runaway losers.
When we consider the potential for this sharp movement, it's hard not to think of a waterfall, because that is what it looks like when this kind of 1,2 1,2 with a leading diagonal plays out. A waterfall of red candles. Shorts don't get any entry because there are no deep pullbacks, and longs certainly don't be able to an easy exit during the waterfall. The winners of this kind of movement are often the ones who see what's happening early and get out of the river before the waterfall takes them.
Thanks for playing.
When we consider the potential for this sharp movement, it's hard not to think of a waterfall, because that is what it looks like when this kind of 1,2 1,2 with a leading diagonal plays out. A waterfall of red candles. Shorts don't get any entry because there are no deep pullbacks, and longs certainly don't be able to an easy exit during the waterfall. The winners of this kind of movement are often the ones who see what's happening early and get out of the river before the waterfall takes them.
Thanks for playing.