So this chart is going to be like a recap for myself but I'll be sharing it just if anyone want to have a constructive conversation about it :)
The latest moves.
We saw a bearish bat pattern traced in red and that was the pattern that broke the daily trend line and made everyone freak out, the move intensified and sellers just snowballed. It resulted in the first half of the cup and handle (traced in yellow) that brought us back above the daily trend line and made us reach the top.
Those wicks are so nice to identify because you know its being manipulated, the way we touched that top on 2940 gives you an excellent short opportunity, you can see this in lots of charts. Anyway, that gave us a bullish flag (traced in green), indecision, or more likely, imminent short opportunity.
(we new august 1st was still far for the bullish flag to actually complete and shoot up above the top prior august, price is being manipulated so everyone speculates more for august, making it more emotional, more volatile. such party needed more tension, there was still more time to play the price, and breaking the top on august sounds more "coincident" anyway).
So the flag brakes down, just to make again the half of a cup and handle where we are right now (traced in pink).
You can just see it as a fake break down from the flag because still the daily looks we are in a flag so it just looks like glitched haha in that ephemeral downside we had on the 25 to 27. That makes me think, there is still posibilites that we break down this daily flag range or we can also complete the cup and handle we are right now. Completes and we shoot up to the top we have right now. Fails to pass the top, and oh god :( but with august around the corner and all the drama this has been causing to the markets, I bet this will be fun! :)
The latest moves.
We saw a bearish bat pattern traced in red and that was the pattern that broke the daily trend line and made everyone freak out, the move intensified and sellers just snowballed. It resulted in the first half of the cup and handle (traced in yellow) that brought us back above the daily trend line and made us reach the top.
Those wicks are so nice to identify because you know its being manipulated, the way we touched that top on 2940 gives you an excellent short opportunity, you can see this in lots of charts. Anyway, that gave us a bullish flag (traced in green), indecision, or more likely, imminent short opportunity.
(we new august 1st was still far for the bullish flag to actually complete and shoot up above the top prior august, price is being manipulated so everyone speculates more for august, making it more emotional, more volatile. such party needed more tension, there was still more time to play the price, and breaking the top on august sounds more "coincident" anyway).
So the flag brakes down, just to make again the half of a cup and handle where we are right now (traced in pink).
You can just see it as a fake break down from the flag because still the daily looks we are in a flag so it just looks like glitched haha in that ephemeral downside we had on the 25 to 27. That makes me think, there is still posibilites that we break down this daily flag range or we can also complete the cup and handle we are right now. Completes and we shoot up to the top we have right now. Fails to pass the top, and oh god :( but with august around the corner and all the drama this has been causing to the markets, I bet this will be fun! :)