Bitcoin is setting up to realize a continuation move from a bearish flag. All the signs are there, the Volume Well on the profile is a slippery slope, with some past support afforded by a nipple shelf smack dab in the middle of the well. I threw in a fib retracement for the pleasure of you numerology weirdos, but it doesn't come into play.
These are signals for this session only, until 8PM tomorrow Oct 1. after that they are invalidated. If one or more is triggered, we will follow that trade for no longer than 4 days.
The signals were generated by PatternCast a type of AI Pattern Recognition system.
We absolutely crushed it with a short on the day Bakkt was released, and today we caught a nice little short and are currently Long with a high potential trade, according to our signal service at patterncast.com
PatternCast is a pattern recognition technology that presents high probability trade scenarios. We have recently made available to the public our crypto version, after a year of incredible success with our traditional markets version, which provides signals for futures, forex and stocks. Check it out at patterncast.com
The market is a complete mystery to me right now, actually not the market, but the idiots sitting in their ivory towers that think they know more about the economy than the collective wisdom of the masses.
Where it will stop no body knows, however this Bear Flag is bigger than most, so I suspect the next move down will be commensurate with that. The Volume Profile shows a huge volume well between 5700 and 4200, I suspect a wild ride if price enters that zone.