VWuelfrath

VWuelfrath Updated 

We are correcting on the upside from that violent bearish wave 3. A textbook bearish crab has form on the important Fibonacci supports. The target for the correction is 8900$. Because the sell-off was so violent, we may see a further correction to the upside. Buy zone: Small amounts up to the B point (about 8500$) Sell zone: 50% at 8900$. We may overshoot so...

VWuelfrath Updated 

A significant bearish divergence between the RSI and price action has developped on the 1D chart. This indicator, coupled with overbougth stoch RSI, tells me a bearish movement is bound to happen soon. Furthermore, the price fell hard yesterday (-8%) eventhough the BTCUSDLONGS/BTCUSDSHORTS ratio increased by 20%. This indicates longs may be squeezed out in the...

VWuelfrath Updated 

In the last 15 hours or so, BTCUSDSHORTS have increased by about 8% and BTCUSDLONGS have decreased by about 3%. This indicate a shift in the market momentum. Furthermore, we are currently being overbought on the RSI and stoch RSI with major bearish divergences. I expect the rising wedge to break downward and we will at least retest the main downtrend resistance...

VWuelfrath

Nearing the end of the rising wedge, which is a bearish formation. If we should break the support (orange line), this could retrace back to the low 7xxx.

VWuelfrath

Expect a fast selloff as we break the triangle on the downside. We have strong resistance on the upside and the downside resistance is about to break. Furthermore the decreasing volume suggests that it won't hold.

VWuelfrath

We see the formation of a bearish bat on the right shoulder of the inverse H&S pattern. The same bearish bat formation is observed on the left shoulder. If the yellow line (neckline of the reverse H&S) holds, we may see a big drop in price.

VWuelfrath

It is possible that the bounce from the last few days is actually a retest of the 200day EMA (see blue line). If this fails, this will confirm the reversal to a new low (expect 4500$ based on Fib levels). Keep in mind we are currently in an ascending wedge which is also considered bearish. Day MACD looks like it will break to the bullish side. However, we see...

VWuelfrath

The bear flag has broken. I watched from the sidelines all day to try to learn. This was incredibly entertaining. The bears have done an incredible job selling a TON of coins at the top of the channel (the bottom of the previous downward channel). So now we have a scenario where the bears have made abour 30% return from the bear flag and they sold a lot of coins...

VWuelfrath Updated 

My friend asked me to teach im to buy crypto. He doesn't even know what blockchain is. This will not be a popular opinion, but I do believe we just popped the bubble. We are at the very top of the channel. We see an insane amount of volume that is now decreasing. RSI is slowly coming back down. MACD indicates bearish behavior. On a sentiment analysis, I think we...