Hello,
First post here. Certainly no technical expert, but I have made consistent gains including since the crash. Of course, I do frequently adjust my ideas based on how it unfolds.
Here I've used multiple levels of smaller to bigger picture to find points of interest and patterns that align on more than one scale of time. Horizontal blue lines mark significant lows going back to summer of 2017. They happen to line up perfectly with a fibonacci retracement from our most recent crash initiation and can feasibly be hit within the falling wedge that started when we exited the false hope phase.
After this, I see a double top some couple thousand higher, another smaller double top and consolidation for the following months. Long term I am bullish and believe we'll see a bullish overall sentiment begin again partway through summer.
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Education only, not advice.
First post here. Certainly no technical expert, but I have made consistent gains including since the crash. Of course, I do frequently adjust my ideas based on how it unfolds.
Here I've used multiple levels of smaller to bigger picture to find points of interest and patterns that align on more than one scale of time. Horizontal blue lines mark significant lows going back to summer of 2017. They happen to line up perfectly with a fibonacci retracement from our most recent crash initiation and can feasibly be hit within the falling wedge that started when we exited the false hope phase.
After this, I see a double top some couple thousand higher, another smaller double top and consolidation for the following months. Long term I am bullish and believe we'll see a bullish overall sentiment begin again partway through summer.
---
Education only, not advice.
Comment:
Some are saying it will reverse here. I see it as a short term bear flag. When looking at the volume of the reversal candle, we see it is significantly lower than any other apparent candle.
Comment:
Was indeed a perfect bear flag, continue moving downward roughly as planned.