smies1992

smies1992

Although the wicks of a candle also provide support and resistance, the body is a stronger indication of selling and buying power. Based on that conclusion I think the Bitcoin is forming a big descending triangle. The bearish pattern, which most of the times is a continuation pattern can be a reversal pattern. If so, the target of this pattern is from the break...

smies1992

The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns. Are you ready for the break :)

smies1992

Nice short incoming. Rising wedge in combination with decreasing volume and divergence on the MACD indicates that we should go lower very soon. Good luck :)

smies1992

Last waves down to complete the bigger B wave down. Also a very nice long (C wave) incoming but I'll come back on that later on. Good luck! No Financial advise (Is this really necessary?)

smies1992

Please let me know what your personal point of view is. Cheers

smies1992

If this rally was a corrective wave A to the 38% fib level a typical B wave should retrace at least to the 50% fib level (2413) of wave A up. before bearish continuation

smies1992

For my own use