Possible bottom with a W pattern reversal and wedge breakout back to the ~$55k level of the breakdown point of this flash crash. C.f. also all the updates on my prior idea which is linked below this idea.
Comment:
I see more downside.
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BTC shorts bottomed and increasing again.
Stock markets have bearish gaps that need to be backfilled this week.
Stock markets have bearish gaps that need to be backfilled this week.
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Nasdaq / S&P 500 needs to come down more. That’s more risk off movement, which is short-term bearish for Bitcoin.
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Downside range is ~$42.5 – $45k. Upside is $50.2k before downside is invalidated.
Downside range is ~$42.5 – $45k. Upside is $50.2k before downside is invalidated.
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Exceeded the upside range. Looks like a W pattern breakout headed to $53 – 54k.
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Unclear if backtesting the posited top of W which has numerous possible necklines or if need backtest the huge wedge, which projects up to $58k. In any case, I no longer think there will be a drop below $48k again.
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BTCSHORTS headed back down again. Is it headed to a lower low or just a flag before heading higher?
ADA and DOT both are still my favourite.
Shelby Moore, {12/10/21 7:47 AM}
{In reply to Dao Khanh}
Until I release my altcoin. 😉😜🚀