The Carnage isn't over yet, its only just begun.
BTC is displaying massive HIDDEN BEARISH DIVERGENCE (HBD)
Bounced perfectly off a double bottom, and ran straight into the confluence zone (C.Z.) (marked with the 0.382 and 0.618 fib level) pushed through then was swiftly rejected.
Price tried the retest, but that was also rejected.
From the top of the range ive drawn a box to the C.Z. then coppied it and placed it from the C.Z. down and it gives a predicted price of 2861.4, the HBD is also an indicator that we are going down.
In this chart
there is a formula for calculating pride predictions with HBD and Ive backtested it with previous price (please not its not precise to the cent and should only be used as an estimate)
In this chart
there is also 2 x HBD and ive used the formula again
Now that youve read it all go back and look at 3121 in the chart at the top, hence the box ;)
Time will tell how this plays out!
BTC is displaying massive HIDDEN BEARISH DIVERGENCE (HBD)
Bounced perfectly off a double bottom, and ran straight into the confluence zone (C.Z.) (marked with the 0.382 and 0.618 fib level) pushed through then was swiftly rejected.
Price tried the retest, but that was also rejected.
From the top of the range ive drawn a box to the C.Z. then coppied it and placed it from the C.Z. down and it gives a predicted price of 2861.4, the HBD is also an indicator that we are going down.
In this chart
In this chart
Now that youve read it all go back and look at 3121 in the chart at the top, hence the box ;)
Time will tell how this plays out!