Don't fall in the bear trap! Fake divergences lesson in BTC
JPEG for laptop users (because reasons... font scaling of Tradingview's graphs is so bad in small monitors)
This is getting so repetitive... My only issue is to predict when the dumps are going to come because I rarely look the smaller timeframes. Damn, I could've made bank on that third overextension-retraction.
Reinforce long positions: hidden bullish divergence again in lows, while highs are non-divergent (need confirmations from all RSI, Stoch and Stochastic RSI) and the overall trend is still bullish.
Orange arrow is probable (slowly bleeding people stop-losses of people who panic shorted the bottom during the night), but green arrow is possible. Lately, we've been following that meme purple "out of the bullflag" line. Zoom out to understand it in the bigger perspective. It'd get us to 78.60% retracement of the falling wedge of wich we already hit the first target; but I trust that Bulkowski guy analysis so I'll be greedy and stay long till we get there. Be greedy when others are fearful.
Good luck everyone! and feel free to comment and contradict me if you feel so.
PS: dollar users, multiply €ur x 1,22 to get roughly a price target.
This is getting so repetitive... My only issue is to predict when the dumps are going to come because I rarely look the smaller timeframes. Damn, I could've made bank on that third overextension-retraction.
Reinforce long positions: hidden bullish divergence again in lows, while highs are non-divergent (need confirmations from all RSI, Stoch and Stochastic RSI) and the overall trend is still bullish.
Orange arrow is probable (slowly bleeding people stop-losses of people who panic shorted the bottom during the night), but green arrow is possible. Lately, we've been following that meme purple "out of the bullflag" line. Zoom out to understand it in the bigger perspective. It'd get us to 78.60% retracement of the falling wedge of wich we already hit the first target; but I trust that Bulkowski guy analysis so I'll be greedy and stay long till we get there. Be greedy when others are fearful.
Good luck everyone! and feel free to comment and contradict me if you feel so.
PS: dollar users, multiply €ur x 1,22 to get roughly a price target.
Comment:
This is ridiculous, whoever is selling right now I think he's just being pranked. Price going down with such divergences is unreasonable beyond belief, and the beartraps align beautifully in the indicators. I still strongly believe that we're just building room for growth in Stochastic and RSI indicators. Plotted new Fib levels on the new extension (purple) and the scenario I initially contemplated is still valid, moreso with the new Fibs. Orange arrow would be slow consolidation of the 100% percentile and purple would be tripping bear stop-losses snowballing into overextension levels of the most recent push (again, purple Fibs) and overshooting both targets of the broke falling wedge, 78.60% of its bright white Fibs on the left. (Props to Bulkowski if this happens!)
Comment:
always the same... Pranked, bruh!
Comment:
(snapshots acting weird)
always the same pattern...
always the same pattern...
Trade closed manually:
just acknowledging failure of the forecasts: the consolidation arrow was a day slower than what I forecasted :D dang it!
if anyone was trading this, get out and watch my new post to find out why
if anyone was trading this, get out and watch my new post to find out why