Weavs844

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Descending Broadening Wedges showing buying signs for their reversals?

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Bitcoin pattern in daily RSI

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excellenceassured.com

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Just a pattern that looks ALOT like the one that is forming above www.cmegroup.com But... for those that hopeful this will go up. What we should be looking for is a small bounce off the top line in the next few days. One that reaches only part way down then heads back up. That should be a signal this is going bullish.

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Just my analysis going off of the last bear market's pattern. Yea, Mnt Gox before... I've heard it... Pattern still amazingly is playing out similarly. Weird The last green line is just my guess and is no way supposed to mean when exactly I think we will stop going down this bear trend. What I would watch out for is when we do break that yellow trend line I...

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Comparing how it broke down previously to this time....

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Broadening Wedge pattern forming

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We just had our break up out of the triangle and fail... I'm confused how anyone is bullish personally. If we break 10k, I'll start changing my tune. But this market seems to be in a bad place right now. And not just talking about the patterns. But the average person is getting bored with it. Definitely need a longer cooling off period before we get hot again.

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Breaking point coming up! Last time it went up and the time before it broke down.... Think it will determine our direction for the next few weeks and should be a nice opportunity for profit. (either from shorting or buying)

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Bearish descending triangle with the pattern I've seen within it. We have tested the bottom are headed up on more time before our final decent.

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RSI is playing out a perfect falling wedge and the 5th wave should drop to the same, oversold, level as our last drop did. I expect a nice turn around there!

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Looking to complete the 5th wave and have a buying opportunity ahead. If it happens the RSI on the daily chart will also be oversold should retrace up as well. I would guess we would could climb back over 10k.

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Depending on which way we break from right now, we should be headed for 9800 or 6800.

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6800...

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I think a lot of people are hoping for a sharp correction and underestimate how fast Bitcoin grew when it isn't being used a lot in the real world. A little cooling off period is definitely needed for another meteoric rise this late summer/fall.