Okay dudes, I haven't posted in a while. I was working on other things but I'm back now.
Here you can see BTC went for a sick descending wedge and totally caught some bodacious price action out of the wedge.
BTC is now hanging loose with the 12345 up, keep in mind that this pattern is forming a rising wedge at the top so that is kinda bearish, but it could break the pattern with some long sideways movement on wave 4 which would signal ALT season again.
The other scenario, which is bullish is if this goes up to meet 9500-9700 then comes back down, the rising wedge completes and then we get an inverse head and shoulders which is another bullish pattern.
Here you can see BTC went for a sick descending wedge and totally caught some bodacious price action out of the wedge.
BTC is now hanging loose with the 12345 up, keep in mind that this pattern is forming a rising wedge at the top so that is kinda bearish, but it could break the pattern with some long sideways movement on wave 4 which would signal ALT season again.
The other scenario, which is bullish is if this goes up to meet 9500-9700 then comes back down, the rising wedge completes and then we get an inverse head and shoulders which is another bullish pattern.
Comment:
We aslo have a good amount of bearish divergence to put this drop back in play.
Matched up a fractal that is following the same wave pattern.
Matched up a fractal that is following the same wave pattern.
Looks like second prediction came true: Went up to 9500 and came back down out of the rising wedge like expected. Let's see how far she dips, I'm thinking the wave pattern is correct here.
This would make a nice head for an inverse H&S.