Well here we are at what feels like the end game of this bear market. There are two choices. Price can go up or it can go down -or it will go sideways.
My reading of PA leads me to believe it's down. Honestly I'm loosing interest in bitcoin at the moment to focus on other things such as fx and stocks.
I'm also taking a hiatus from blogging and social media....
I'm not 100% confident here and I usually don't like to post charts when I'm not 100% confident but here it is. This is purely contrarian I guess and based on price action. I see way too many people calling for moon. I also see this descending chanel and I expect to test the bottom of it. Will we retest the top first? Maybe. But I doubt any move to the upside will...
As usual here's my intraday forcast. I'm expecting a consolidation day to shake out some fomo buyers, trap more bears and then give us a nice warm fuzzy christmas in the form of one last leg up. But get ready. I doubt this move will be sustained. Still expecting a big drop.
Bears watch out. These bulls still have some punch. Looking at 4200-4500 range to determine whether we're in a larger squeeze or just another bounce. For me now it's all about momentum taking out and holding key levels. If we do reach these highs I'm probably biased for continuation to the downside.
Keeping it short and sweet. Here is my anticipated PA for 12/15-12/17. When these FOMO buy retards give up we'll probably finally get a bounce. (Note reversal down is off previous support and trendline.)
Here are my two most likely scenarios for the next couple days. Don't be surprised if we see some volatility . There's anticipation of a move in the air. No reason to expect a substantial reversal here although anything is possible in crypto.
Flights to new highs and plunges to the depth. What's not to love?
A long time ago I watched a trading video by a guy who really impacted the way I view the market. He talked about how there are magnets. (Points where price is drawn to and then rejected from-like a magnet.) To me it makes sense not just in the sense of market maker and large players having key levels they will defend and target. It also makes sense from more of a...
Rejecting off the EMA but seems the pace of the drop is slowing down. (at least for another bear flag.) We're starting to get some bullish divergence on the RSI. The arrows represent the hopium of my shattered dreams.