JackRichards1987

JackRichards1987 Updated 

Waiting to see if this double head and shoulders top plays out. If it does it will be like watching the Titanic sink. If we break below the $30-35k support level, dead cat bounce off of $20k on the way to the $10,000 range.

JackRichards1987

We are at the end of a descending triangle in BTC on the weekly/daily. I am expecting we drop suddenly then chop around in the $12k-6k range. Historically speaking the bottom should occur somewhere around the month of November which would coincide with a likely Fed pivot timeframe. Thoughts..?

JackRichards1987

One of the most reliable patterns historically. I am betting on it playing out for about 10% downside in the Qs.

JackRichards1987

My humble opinion on the next 45 days. Considering technicals, geopolitical events, Shemita/Jubilee cycle, the liquidity crisis has begun and the only factor that matters at this point (unfortunately) is CB actions.

JackRichards1987 Updated 

Just playing with this idea. I know the narrative is that we can only go down from here, but I could see this last falling wedge play out to one last epic bull trap before a continued decline. I would love to hear anyone's thoughts on this. .

JackRichards1987 Updated 

Did we break out of the wedge? It met the price target almost exactly last time we saw this formation break.. Will it do it again? If this wedge pattern plays out we could see a 20% bounce before continuing our trend lower..

JackRichards1987

Looks like we failed to breakthrough the descending wedge upper trendline... Next stop..?

JackRichards1987

Following this since the head and shoulders formed.. Multiple bear flags followed. I don't think $15k is the bottom either..