breakdown no confirmed just yet but probability is definitely favoring it now as we can see price acion now firmly under the 4hr deathcross. If price action cant climb back above that deathcross then both the bearflag breakdown and he death cross will be sustained/confirmed. this is the perfect spot if the breakdown is confirmed for price action finally reach that...
The bull flag definitely seems like it wants to trigger a bullish breakout here. Of course being still in the last 10 minutes of the 1 day candle anything can happen and we must remain patient and balanced until we get a better idea upon the daily candle close...we also need to keep a close eye on the top trendline of the broadening wedge's resistance(in red), and...
4hr chart immediate timeframe is threatening a deathcross and we are currently in an ascending broadening wedge. Will have to wait until breakout or breakdown confirmation of the wedge to know whether or not the 4hr deathcross is more likely to be a sustainable cross or a fakeout. Should know in just a few 4hr candles from now
A very bullish sign here as the 1hr head and shoulder pattern hiding within the 3hr diamond just decided to go on and dust it's shoulder off as price action bounces off the right shoulder of the head and shoulder's top trendline and has now been bounced back into the diamond pulling off a very successful bear trap....this increases probability of a bullish...
TA once again working is magic as the diamond bottom breakout on the 4hr chart has hit its target with 100% accuracy! Next to trigger should hopefully be the 1day charts falling wedge which should have a breakout target around 11.5k and then if we're lucky the double bottom will trigger which could take us back to 13k...those 2 patterns are still up in the air but...
No guarantee it will follow through and I'd like to see a slight bit more volume to confirm but it appears we have a 4hr chart diamond bottom breakout. If so it should reach the breakout price target I have posted here and I expect then on this current pullback for the yellow horizontal trendline at 9646 to retest as and maintain support in which case we will then...
After seeing price action climb up and reject right at the top trendline of this falling wedge then fall back down and find support right at the bottom trendline of this falling wedge I can now say with a fair amount of certainty that the h&s patterns were decoys cloaking this falling wedge which seems to have now emerged as the most legitimate current chart...
Price action appears to now be painting a downward slanted h&s pattern and the 50 and 200emas on the 4hr chart have now official deathcrossed. Wee are also seeing a green candle coinciding with the deathcross which happens often as a last ditch effort to reverse the deathcross back into a goldencross thus achieving a deathcross fakeout...in order to achieve one of...
yet another instance where the accuracy of TA absolutely astounds me. We can see when the price broke up on the first 4hr candle to leave the neckline behind that it hit the turquoise falling wedge's breakout target with exact precision the next candle made it as high as 11126 or so before coming back down and turning red on us and where did that candle stop its...
Neutral until a confirmed break here however my assumption is we will see a inv h&s fakeout breakout taking us up to 11.1-11.2k and then dumping not long after to instigate the exponential 4hr death cross eventually bringing us down to the gap at 8.5k potentially. Just a thought...it could also very easily hit the full target of the inverse hea dand shoulders...
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