well, the price has been throwing us a lot of mixed signals lately, however i believe it was necessary that was test and reject this area, being that we are witnessing the first weekly death cross in bitcoin history. we have already been rejected from these MAs on the market cap chart, so i think it is likely we will print a firm rejection on this weekly candle...
we moved down to the bottom of the wedge as i called at the top, now my question is will we go lower? indicators have barely budged despite the price decrease, time will tell.
Overview
The 2B reversal pattern, also called the "spring pattern", is a popular chart pattern professional traders use to identify potential trend reversals. It occurs when the price appears to be breaking down or up and then suddenly bounces back up/down, forming a "spring" or "false breakout" pattern. This pattern indicates that the trend is losing momentum...
In my opinion c retracement is not finished yet 4th wave would be a so short if c wave ended and bearish started. It could not be happen so I guess that this is 4th wave with extended b. There is notthing wrong to happen this scenerio c should also be longer than a if it is extended b flat in biggest timeframes.
This is not an investment advice these are only my opinions. And my elliot count. I dnt think that bullish season started yet so I do not expect 18k now firt 27 28 k and then 12 13 k
1. Bitcoin anticipated AB=CD pattern at the level of 15958 lets wait for price action at this level , if it fail that mean we will go to the second scenario if bitcoin go below that will form anticipated
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2. DEEB CRAB pattern and the Potential Reversal Zone (PRZ) will be from the below levels awaiting for price action :
1. 13339 -12824 this is strong PRZ
2....
This is me trying to figure out Darvas box idea on smaller time frame. Horizontal support and resistance with boxes.
Each box has to have a two tops and two bottoms.
The monthly chart formed a bullish pivot, so it is only fair that there is a correction to the 50% FIBO region for the crypto to continue its rise!
-If prices start working below the $19.8K region, the trend could be reversed, so I don't rule out that prices will even test the $19.8K region.
-On the weekly chart, SETUP is already suggesting fatigue on the part...
I've posted many times on this exactly the same counting in the sense of the Elliott wave theory.
This time I elaborate on it.
In this hypothesis, we are in X of WXY, whose bottom could be 7500 +- 2000, a roughly 1.236-1.272 retracement from the 65k & 69k double tops or the inverted A&E.
This double zigzag should be a global 4th wave.
This scenario will be...
BITFINEX:BTCUSDLONGS
Looking at the chart of Bitcoin longs, we can see that the number of traders holding long positions has reached an all-time high of 105,000. This indicates that market sentiment is currently bullish, with traders expecting the price of Bitcoin to continue to rise in the near future.
However, it's important to note that high long...
