wishlalwani

wishlalwani

Bearish pattern for BTC

wishlalwani

So my previous ideas about BTC, ETH, DOGE ETC were correct. And if this is your first #cryptocrash, expect a lot more price drops. The overall trend looks down (as shown in the chart) Lengths of previous #Crypto bear markets: 2014-15: 633 days 2017-19: 361 days 2019-20: 260 days #MyTwoCents

wishlalwani

At this moment, ETH seems to be gaining bearish momentum, however, it is just above local support at around 2.1k But a break here might take it down to around 1.7k Looking at the inverted Cup & Handle pattern, A restest of the $1700 range certainly looks possible

wishlalwani

Even though we have 2 possible scenarios, the daily chart suggests short term downtrend. if it goes below the lower trend line (RED) bears would take over, our next support is around $28k-$30k. And if it fails to hold it, it may go down to $20k. However, if it goes above the upper trend line (GREEN) bulls would take over. On a positive note: Minor corrections...

wishlalwani

So Doge has formed a head & shoulders pattern. it can go down from the right shoulder. There's no daily support if we go below $25. Breakthrough support all the way down to 0.078. Too much risk involved at this point. Unless Elon tweets about it haha trade carefully.

wishlalwani

Doge seems to be going sideways. However, if it stays above the support, we may see a touch-off at 0.33, and could return to bullish trend. If not, expect a bearish trend. Then again, the whole market is red, we will just have to wait and see what unfolds for Doge. Safe trading everyone!

wishlalwani

My two cents. Bitcoin has the same probability of going either way. If it remains above horizontal line, Bitcoin might retest at $46k

wishlalwani

Ascending line suggests that ETH is ready to reach $3500.

wishlalwani

Breaking trendline in triangle consolidation. Enter at your own risk*