Mesotekan

Mesotekan

possible large scale descending triangle

Mesotekan

head and shoulders that will probably get played out

Mesotekan

i will sell set a sell order at 6490 expecting a bounce/rejection

Mesotekan

BTC since dec 15th started the parabolic curve and has continuously broken the bottom trend line

Mesotekan

the yellow line is the 700 day or 100 wk ma.

Mesotekan

if it follows the 2015 pattern and actually a normal scenario, it will hit the 100 wk moving average and then pull back probably all the way back to the 50 wk since i dont think it will go back below it. however anything is possible of course and as unlikely as it is to break back below the 50 wk, if it does i think it will go down and back up very fast, it wont...

Mesotekan

typical move just like in 2014 and 2011 it will test the 50 wk ma get rejected then break through and come back down to retest it for support then aim for the 100 wk

Mesotekan

down triangle then breakout to the down side drop to the .50

Mesotekan

looks to me like this is a parabolic move and will probably hit the mark before it retraces. then goes for the 6k level. but remember all this is bullish.

Mesotekan

Just one possible scenario down to the .50 or .618

Mesotekan

i think it wants to retest the 200 wk ma but it stop at the lower trendline

Mesotekan

could just hit the bottom of this channel and then go up

Mesotekan

another view that bottom trend line looks juicy

Mesotekan

its just got to hit that bottom trend line one more time!

Mesotekan

not a complicated forecast here i just dont think we will spend much time below the 200 week ma compare with 2014 the 200 day shouldn't cross the 200 wk.

Mesotekan

i see it making another wedge and squeeze through the 50, 200,1400 ma as they converge like 2014 then break up or down. i have a hard time thinking it will go below the 200 week ma and stay down there

Mesotekan

in 2014 it did something like this

Mesotekan

perhaps just like 2014