It's been a while since I posted my idea last time.
As a sharp drop of the BTC, it caught my attention to post my idea about it.
First of all, what we could see at once is a pattern called "H&S" head and shoulders right?
When you draw Fib Retracement, it directly guides you 0.705 (Simpson ratio) at 7631.5 where the lowest price at Bitmex showed...
How's your trading going?
Today, I am publishing my idea to give you possible movements of Bit price.
Here are 3 points of view in regards to my idea
A. Fibonacci (red ranged from $3121 to 13920, white 13920-7246, blue 13920-6306.5)
B. Falling wedge (green)
C. descending channel (emerald)
Fib range from $3121 to 13920 shows there...
In the previous Idea that I posted shows quite similar moving of the BTC price. :)
Here, I posted another prediction of BTC price movement updates.
1. A bit enlarged inverted cup and handle pattern compared to the previous one is possible (yellow)
2. Still in Descending channel (white, mid-long term)
3. Short-mid term descending channel is going on
4H candle chart based (BitMex) 3 possible patterns that will support my short position.
1. Descending channel is still going on. (white)
2. Inverted cup and handle pattern is possible (yellow)
3. When the price breaks the Rising wedge pattern, it might go further down.
Unless there will be a high volume of buy within a couple of day (up to a week), BTC price...