Corrupt_Economy

Corrupt_Economy Updated 

Pretty self explanatory. Depending on your appetite for risk I'd wait for either an entry around 8020; or alternatively a confirmed break out above the flag pole (8500+) and go long from there.

Corrupt_Economy

Just a couple other potential scenarios I see at play (the key word here is potential!!). Anyway, could we be expecting a period of ranging (consolidation) over the next week which will also serve the purpose of confirming the long term down trend line we have recently broken out of as support? If so, then another strong move up to 9900 would complete the head...

Corrupt_Economy

We broke to the down side of the small light blue symmetrical triangle. Target is around 8050. If this target is reached, then we will have also broken below the green ascending broadening wedge. A break below this sees a target of around 7350. Please note: That ascending broadening wedges more often than not break to the downside. Considering we are overbought on...

Corrupt_Economy

Ascending triangle forming once we retest 6800 and confirm as support. Medium Risk Strategy: Short entry between 7600-7700 Take profit below 6900. Then Long entry between 6800-6900. Target 9400-9550 based on height of pattern. High Probability Strategy (Buying Last Resistance Strategy) Long entry between 6800-6900. Target 9400-9550 based on height of pattern.

Corrupt_Economy Updated 

Smart Money: BTC Selling Last Support Strategy – SHORT - Forming potential head and shoulders pattern. - High/Higher High/Lower High = Bearish. - If 3 tests of the 6420 purple support line. Short on a bounce off the retest of 6420 as resistance. Close at 6280-6300. - If there is a bounce then this is the third test of the 6280 identified via the red arrows....

Corrupt_Economy

Pretty self explanatory. Waiting for short entry at 6800. Close position <6100 (or 6300 if you are conservative).

Corrupt_Economy Updated 

The latest pump (I am happy I was long on that!) has hit resistance. If we fall outside of this rising wedge it could tank us right to the bottom again.

Corrupt_Economy

Yes, I have posted a few alternative viewpoints today, however this is another possible scenario... is it actually a rising wedge or a massive inverse head and shoulders? Bull or Bear - You be the judge!

Corrupt_Economy

So earlier I was short, however if this smaller inverse head and shoulders pattern forms like the previous, then it will send us higher so I also have a long view on this - potentially to around 7400ish

Corrupt_Economy Updated 

BTC has now formed an ascending wedge. I think a retracement to the down side is likely given the recent moves up and the ascending wedge pattern. We should re-test the black dashed trend line we broke out of as support. I am short from 6620 to around 6350-6400. Stop Loss 6740 moving down as you see fit. In addition think the black dotted trend line might...

Corrupt_Economy Updated 

In my opinion the purple falling wedge pattern is invalidated as we broke out too early; therefore we will not be seeing a target that is equal to the height of the pattern. It seems that we may now find ourselves within symmetrical triangle which could take us either way…

Corrupt_Economy

Rather than add more updates to my existing analysis as it is getting rather long winded I decided to create a fresh one to plot the rest of our journey down the falling wedge . We are currently forming a small symmetrical triangle that will send us down to 5560ish. We will then trek sideways a bit longer, before hitting former support/now resistance 5770ish...

Corrupt_Economy Updated 

Longs in ascending channel and about to hit resistance

Corrupt_Economy Updated 

Ok, as per my last analysis I discussed the possibility of a falling wedge reversal pattern forming. We actually fell through the bottom of the previous falling wedge I drew, so I have now recalculated based on the updated price movements. I still believe the falling wedge reversal is the most likely scenario at play; and these latest movements actually indicate a...

Corrupt_Economy Updated 

Ok, so in my long-term prediction I discussed the possibility of a falling wedge reversal pattern forming which I now believe is the most likely scenario at play. As you can see we are now expected to go up to around 6400 before retracing again. All these shorters are likely to get rekt very soon! Some shorters probably think we are printing a bear flag, however I...

Corrupt_Economy

As per my last analysis – the symmetrical triangle pattern has played out. If we don’t go any lower, then we might be forming the purple falling wedge reversal pattern. This pattern sees us start to move higher (to around 6400ish – April low) before sinking us all the way to 5780ish where we have strong support. From here based on the height of the pattern, we...

Corrupt_Economy Updated 

If you read my previous analysis then you would have seen that I identified a symmetrical triangle pattern that would potentially send us down. Well as it turns out; we didn’t see the confirmed break to the downside we were looking for and the crisis was averted! Or was it… We now find ourselves with two potential triangle patterns at play which could take us...

Corrupt_Economy Updated 

Ok so I have had a more detailed look at BTC vs USD and the potential 2 options at play. Option 1 – The dotted descending triangle is not actually a descending triangle and is the typical triangle pattern we see when a triple bottom is formed. Option 2 – The dotted descending triangle is validated and we break to the downside of it as expected of a descending...