Comparing the last rising wedge to the current one forming, we broke out at 42%, I've marked on the newly formed rising wedge the 42% mark, where a potential break out above or below could happen on or after that mark.
The obvious H&S that most are trying to play right now seems to be working out, but is it too slow? Seems a falling wedge has appeared, and if bears cant take this to 6000 soon, its possible another break up could happen soon.
6K support didnt hold, and a bearish flag played out on last leg down, shorting until 5400-5600 range, hope the move to 5400-5600 doesnt happen fast as that could create another possible bear flag.
If the drop trickles down over the next two days a possible Falling wedge could form, and we should bounce off 5400-5600 and move back up hopefully towards 7700.
Expecting a retrace to at least 9200 over the next month, With possible retest of 6000 support level, from where we currently stand.
Low vol, and with miners the majority selling, accumulators will take advantage of these prices, and leverage the miners