Let's put a lid on it

Frenzy moon boys dreams.

Comment:

Rejected on 4063.

Last few days formed a rising wedge, the support line is 3962. We broke it down to 3914, but bulls bounced the price back to the support line. Such a bounce is normal, but it could lead to further growth if the sell is not followed through.

Comment:

Temporary support was found on the bottom of the wedge, as predicted. Probably we are going to go sideways for hours/days here and then we will fall to our former support area:

Comment:

So far so good, seems to follow the prediction for the moment:

Trade active:

It's taking very long for the market to decide a direction for the BTC price. It's slowly going down but not at the rate I expected. To reach the target, we would need to go through 3930, 3900 and 3870. 3930 seems to hold atm.

Comment:

The drop is confirmed, later and slower that anticipated. Vertical sell candles are still present, yet they are no so violent as the last few months, signaling maybe some confusion among the traders. Maybe it's just my confusion ;).

The price found some small support on 3860-3900 area. Yet further declines are in the making. If the price stabilizes around the 3900 area, some serious wicks are expected, beware.