Have we seen this pattern before? I think so and it may look something like this IMO. The climb up is short (less than 20 days). The drop could be harsh. What better time to drop the bottom out when everyone expects a bull run? (about mid December). I am very leery at the moment until proven otherwise.
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I moved the line of the wedge up and provided a possible path...good luck
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I would even say this is possible. Better to be prepared for the worst IMO. Maybe BTC will surprise us. Let's see
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Decision time...which path? We should know soon
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Looks like up to me...let's see
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possible path IMO
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This idea may be a little bit of a stretch from a prediction but I think it holds some value. Drop down to 55.6k area in a few hours and then find its target later tonight or tomorrow near 60k. Let's see
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I think we are going to dip about 3% down and then rip up to the target. What will happen during this time? I think ALTS may benefit but let's see
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I raised my target up to 55.9k area
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target hit...hey sometimes you get it right :). I see the ALT space heating up until BTC finds its way back down but let's see how this develops. We aren't out of the woods quite yet. BTC has humbled me many times...
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I don't think I got it right after all...in fact I do not like what the market is doing right now. I'm going to sit on the sidelines until it is more clear. Trade safe.
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Here is my idea at the present time...down to 54.3k and up ....or the bottom drops out and it heads to the 44k area rather quickly. Right now BTC has shorts and longs uncertain IMO. This would fit a cup and handle with the current formation and hit the typical 38% fib.
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Bags are being unloaded IMO and then the shorting will begin by smart money.I'm anticipating a large drop in the near future. Let's see if the bulls can keep it going up but I'm not banking on it
Trade closed manually