NeutronMan

NeutronMan

Bitcoin is still below this critical multi-year support Trendline. My guess is that Bitcoin won't be able to close a 2 Week Candle back above the Trendline so we could see another leg down.

NeutronMan

Bitcoin finally broke out of this Right Angled Broadening Wedge on the 2 Hour Chart. The target of this pattern is around 17.2k.

NeutronMan

This Right Angled Broadening Wedge on the 3 HR Chart and the 50 EMA on the 1 Day chart points toward 17,140 as a bullish target. This is the most likely scenario in my opinion.

NeutronMan

Since it's taking so long for the DXY to pump I think it has a bit more downside to go, so I redrew the Falling Wedge to give it more room. A DXY drop could make the S&P 500 and BTC pump in the short term.

NeutronMan

I know some people will disagree with these Bear Flags but they make sense to me. The next price target could be around 12.4k but I think the local bottom is around 10.4k.

NeutronMan

It appears Bitcoin is forming this massive Descending Broadening Wedge on the 1 week Chart. I annotated some notes on where I believe the bottom / top will be.

NeutronMan

A new month started so we have new Monthly Pivot Points. Since the price is below the pivot points, I'm expecting some type of relief rally to occur. I'm still expecting a major capitulation to around 10-12k to occur sometime this month.

NeutronMan

I just realized that the price is about to make contact with the Macro Trendline. That's the only update I have for this chart.

NeutronMan

This is a reminder that the 50+200 Weekly EMA Death Cross is basically about to happen. This could mean nothing, (most likely) the price could capitulate or (not likely) there could be a massive pump.

NeutronMan

It seems possible that Bitcoin could pump to around 17.2k because of this potential Right Angled Broadening Wedge on the 3 Hour Chart and this Bear Flag Retest on the 2 Day Chart.

NeutronMan

Bitcoin has broken down from this Bear Flag on the 1 Day Chart and it appears like it's ready to begin drop within the next week.

NeutronMan

Bitcoin still appears to be on its journey to 10.4k. From there I'm expecting a massive bounce to around 13.6k.

NeutronMan

Bitcoin appears to be playing out this Bear Flag while the DXY appears to be finding support before the next move up.

NeutronMan

Bitcoin is still forming Lower Highs and Lower Lows in Phase D. I'm expecting a large move down eventually within the next month but probably sooner.

NeutronMan

Unless if Bitcoin can start pumping 20% a day, this 50 + 200 Weekly EMA Death Cross is imminent. This hasn't happened before in Bitcoin's History so it would be interesting to see what happens.

NeutronMan

I usually don't look at the 1 Hour Chart since it's too short of a timeframe but it's fun to look back and spot the patterns that played out.

NeutronMan

Here are two bullish patterns that I'm watching in the short term.

NeutronMan

I have a feeling that there's a possibility that Bitcoin may pump into Christmas. In 2020 and 2021 we saw BTC pump leading into Christmas so it could happen again.