Previous pattern circled. this is very possible, the cycles are lining up.
cycle analysis in my previous charts. i will be trading this megaphone scenario
alts could move up while btc consolidates, i dont have the time to go over every single scenario and cycle within the lower time frames that is seen within this chart. if you have any Qs just ask
Hull Moving Averages are the best moving average for trading bitcoin. Notes are as seen on chart. Possible bottom/ consolidation.
using @wyckoffmode 's rsi and the stochastic rsi i am seeing similarities in bottoms here. make the populous load on shorts to cover and spike it higher.
pattern is easily visualized using the hull moving averages; though we have moved down to a slower MA, we could be following the same continuation move as seen above. painting a falling wedge that breaks down.
HMA 55 89 144 233 377 TFs that work well are 30m 1h 4h 6h 8h daily
Invalidation is a 2hr candle close below 49999 or 55ema. Strong hands here bulls lets get it done. Shorts rekt next
possible bottom here. long term down trend as more currencies enter the space. watch percentage of triangle fill, 66% is breakout zone/ resolution fulfillment area
Take note of previous price action, how much consolidation is needed at this level? more Bullish the more we stay above the 55ema
Mean reversion should be learned and mastered by all. I am curious to see how this plays out, will we have long drawn out melt down like the previous melt up; or will bulls make it known they are here and in control? Time spent in the current red bubble will determine who has control. If the time is less spent in the bubble than the previous red bubble, bulls are...
2 possible scenerios lay ahead, i am still macro bullish but anything below 52k is scary. we need a good wick down followed by buying pressure and bull market continues.
The breaking of this rising channel will cause liquidations, longs covering, and bear traps. Thousands of bitcoin to be bought on the book at those levels as well if you do any order book hawking. This move is taking longer than i thought. But now i know and i wont forget it. The market needs to mature and test lower prices; we will then see if the said spring...
what a shakeout close on CME, bears couldnt control it anymore though over the weekend, we will continue to make higher lows until cycle top EOY.
Based off this long term analysis cme is really good at painting a better picture with less market noise as of right now. This is the supercycle
Green price line broke down below white energy support. 2 hr is much worse. no love for lvg longs, on the bright side, this is great consolidation for a big move coming soon; new moon coming the 4th of nov..
Btc loves to flop these moves and reck everyone so be careful and cognoscente. always ready
watching close, buys are marked by blue flags. we see downward pressure. upwards energy is exhausted. time to stop hunt/ liq longs