mister_desmodue

mister_desmodue

Drew this chart about 1.5 weeks ago. The idea was that we are in the same fractal as illustrated previous to the current one and we either bounce of the major 61.8 (red wave) the upwards or 20k retest then upwards (pink wave), or break below 20k and potentially begin a multi-year bear market. Let's see.

mister_desmodue

POC shows $34,xxx when evaluating PA since before 2021. To me that implies that POC is the line in the sand. We bounced strongly off that POC. If that POC is in fact where support must turn into resistance to further the bears' momentum, then an extraordinary amount of selling must occur there. It was also a key level for barely-late leveraged longs. It seems more...

mister_desmodue

MA - 320 (white) MA - 70 (red) The resemblance of this fractal the earlier fractal is unarguable. History does not always predict the future, but this is certainly a fun little find! Next major volume nodes at $37k and $34 should the ascending broadening wedge break down.

mister_desmodue Updated 

The breakout from the descending tightening wedge that formed over the past 2 weeks seems to have failed, despite printing an uncanny similarity to previous breakouts. - 1 last touch on wedge at $39k area would be the third touch and thus completing a standard ascending tightening wedge printing since about October 2020. I suspect it will break to the upside for...

mister_desmodue

Chart is self-explanatory. Major fib .5 re-test. If this retest fails I believe $39k becomes extremely like. Please check out the chart I posted before this one for bearish cash.

mister_desmodue

- Retest of .5 major fib - beautiful and somewhat hopeful bounce on Dec 3/4/10 - The later rejection off of .786 minor and .618 major - not good, but unsurprising. We have danced around the .618 major for some time now since end of Aug 21'/reversal - If we can reclaim the .618 major then .786 up next - Some formations to be considerate of: ABW from July 21' (not...

mister_desmodue

Long-term channel (Dec 20') Long-term trend/support (July 21') 0.718 rejection -> 0.618 retrace (major fib) DBW nearly complete and the larger containing formation of DW nearly complete (needs 1 more touch for total of 3 for each formation) BTC Log Growth Curve indicator (monthly/log scale) - $51k correlates with 0.5 fib Downward momentum Conclusion: $51k last...

mister_desmodue

The fractal from the April 15th dump is slowly playing out. At the time of this writing we have broken down from a rising wedge. It's just a wee-bit and is not prophetic, but something. As such I'll be eyeing PA to see if it follows the fractal. The longer it follows the fractal the more it can be used as a factor for confluence. As detailed in my previous post...

mister_desmodue

Insofar two shorter-length AW are playing out within a longer-term FW. It seems reasonable based on that and bearish fish we see one last leg down to low 40's area. Notice the green box is the last stop for meaningful volume to kick in before free-falling to high 30's. That tail of the volume cluster also correlates with low 40's price. I use mostly fibs, but...