W3rN0tAl0n3

W3rN0tAl0n3

Classic bearish megaphone- target circled

W3rN0tAl0n3

Looks like a repeat set-up- dump in coming days to base of wedge....or deeper, depending.

W3rN0tAl0n3

Ever since the drop back around the 10th, BTC just can't get back on-top of that original trendline it formed- not a sign a strength.

W3rN0tAl0n3 Updated 

B wave completing, C wave incoming, possibly down to 4600, or deeper to 4200, then 5-wave count rebound to 6000+

W3rN0tAl0n3

we are now printing a 9 on the DAILY, 3-DAY, & WEEKLY charts- be careful!!!!!

W3rN0tAl0n3

As one can see, the trendline that has held for weeks now, helping to support this short bull-run is now broken and price is re-testing top of trendline now and should be rejected soon.

W3rN0tAl0n3

Well that bullish case that everyone jumped on yesterday after ONE 5-minute celery stick and NO follow-through was a clearly a one-off with no volume to support continued movement up- just wanted to point out to be careful relying on such flimsy evidence before going all-in as many did.

W3rN0tAl0n3 Updated 

If you look at Daily Stochastic (circled) you can see a cross below the 80, again, and since it hasn't been down to touch the bottom in over a month, this almost always predicts a coming drop off. Also, the MFI indicator is now in oversold conditions on the daily as well, a fairly potent signal on this time-frame. Does this mean a guaranteed drop? No. Does this...

W3rN0tAl0n3

Look for a nice reversal in the targeted area on the chart- this will perfectly match our left shoulder and start forming the right shoulder of our inverse H&S patter that should propel us to at least 5k. A double bottom formation is possible too, however with so many traders looking at this inverse H&S pattern and with their buy orders ready to go, I'm inclined...

W3rN0tAl0n3

another cup & handle?

W3rN0tAl0n3

I hadn't spotted this earlier but now I'm wondering if this may actually be presenting itself- if you look at some of the other alts like Tron, ADA, and ETH, this formation is even stronger and even seemed to have already played out with TRX and ETH to some degree. I just wanted to share with community. I was actually pretty bearish for the last couple days, and...

W3rN0tAl0n3

As one can see the classic bull trend reversal head and shoulders formation has formed with the right leg of the head breaking the original bull trend-line and the right shoulder coming back up to test that original trend line before reversing trend or at the very least drastically slowing it down in the short to medium term.