bmrm98

bmrm98

it looks like we are about to have fun again, its going to be a slow ride there though.

bmrm98

this could just be schizo rambling, but i've been watching this histogram pinch for years. we just tested and confirmed it as resistance. with the macd also being in a bearish wedge, and the price looking like it'll form the same pattern, i think there could be a good short if we break below support. there is a possibility for a popoff top still before the MACD...

bmrm98 Updated 

despite recent bullish momentum, we are trading within the original bearish wedge, and it looks like we are printing an interesting 2 week candlestick pattern right as the wedge pinches together. rsi is at 75% (highest since 2020,) indicating a reversal coming soon, i anticipate we will retest the ribbon wedge area around 28k, and then we will see how this pinch...

bmrm98

sorry for the lack of indicators, they changed free to only 2. that being said, this small rally after the ribbon pinch has not created any real breakout of patterns, if anything it could be looked as a retest of old support to confirm it as resistence before we move further (the orange wedge.) especially with the fact there is no real turn around in the stock...

bmrm98 Updated 

things are getting fast, i think we consolidate shorterm in this bullish wedge then continue breaking on to new highs, the way the news has been its anyones guess what happens next

bmrm98 Updated 

all signs point to a reversal, yet CNN is headlining that we are in a bull market. be careful with your money over these next few months.

bmrm98 Updated 

just an update on my last chart of this. last time we were at the bottom trendline, now we are at the top.

bmrm98 Updated 

no one can know the future for certain, and there are clearly many possibilities here, but i do not believe that the current price can be substantiated on how little volume we have.

bmrm98

everything you need is drawn on the chart. i think it is very evident that the entire market is going to take a steep move down.

bmrm98 Updated 

our most "bullish" scenario would involve the first retest (and based on the stoch, likely denial) of the 100. i think thats a definite possibility, usually when stocks sell bitcoin goes up a bit before coming down with them. a denial of the 100 would be a really strong indicator the bottom isnt in.

bmrm98 Updated 

caught the 50/20 area as support, and indicators look primed for a turn around.

bmrm98

things have been sideways for a little bit now, that pinch on the macd bars indicate a big move is a coming, im betting on the downside.

bmrm98

been watching this play out for awhile, we're being rejected from the top trendline on the day chart currently.

bmrm98 Updated 

bearish wedge in price and on stoch (same for many right now,) i dont think theres much steam left in this engine.

bmrm98

correlation doesnt always mean causation, but the stoch, rsi, and price all printing a bearish wedge has me intrigued. there may be one last small bounce off the bottom trendline to test the 100 at the top, but even that isnt guaranteed now.

bmrm98

well, i was iffy about if we were gonna test the 100. being that the stoch is in a wedge, the rsi is in a wedge, and the price is rallying on low volume, i expect us to test then decline the weekly 100 at around 33k, we'll call it 33333. if we break above, i will finally stop my nihilism.

bmrm98

with divergence indicators across the board, i am not sure if there is much more momentum for another leg up. at first, i thought we'd touch the weekly 100 before breakdown, but based on daily indicators i dont think its possible. heres the weekly view

bmrm98

i take the lower high on macd as confirmation the price will turn down.