High timeframe so this could take several months to even get back to the gap fill but very nice high RR on this if it comes to daddy. Classic bearish island top into potential H&S as per Edwards/Magee.
Triangle invalidation nearby, but if valid could lead to large drop (ending anywhere from 19.6-22k imo for BTC
The overall situation is a bit more murky at the moment, but even in the situation where we are in a sustained downtrend, there should be more upside from current levels. Expecting a relatively strong 5 wave move up over the coming days.
watching for this retrace to go in large
Last "step up" a simple rectangle measured move gave a good price target. These patterns are among the most reliable as far as providing accurate targets from my experience. I would expect a slight pullback from here (or slightly higher) to retest the breakout, but this trend is quite strong so it may just take off. A break back below the breakout level and close...
Been seeing this a lot in BTC's recent price action. Smaller moves being a fractal/microcosm of the bigger structure. Quite fascinating. I think it's another inverted head and shoulders type structure forming. According to the previous consolidation that ended in July, I have Tuesday the Oct 13th marked as a possible day for a major break. Posting this to watch...
Watching this possibility closely
Something I'll be watching. Seems like a similar move. I think with the comparable volume climax this may have been a bottom. Getting a lot of mixed signals from other charts that I'm still pretty unsure. Sitting it out until at least the weekly close.
In my opinion, at least. Could have one more wave down but it looks pinned to this high timeframe level that has been a key mirror level in the past. A break could send it soaring.
I think you'll have a chance to get back in if you didn't get in on yesterday's lows but I'll be watching this closely. I think $500-800 is in the cards tbh
Currently fluttering around the .618 of our recent high. I think it's flagging at the moment and should break up to around 12k within the next 12-24 hours imo
Overall wave and market structure looks quite similar. Will Tezos follow?
Looks to me like we're starting our 5th wave of macro Wave 1.
We shall see
I believe we are currently in the head of an impending large head and shoulders bottom. If you go look at major historical reversals in different markets, you will recognize the V bottom price action in the head. Also, they have a high tendency for symmetry so look for a similar timeframe for the right shoulder to play out. A strong break over our 10.5 high would...