satmastermike

satmastermike

I've successfully traded two smaller diamond formations in the past two weeks, one at the bottom of a local downtrend that broke to the upside and one at the top of a local uptrend that broke to the downside. These have been reliable on shorter time frames. Now it appears we've formed a much larger diamond top here after our weeks-long uptrend. My bias is for this...

satmastermike

I just went short at the top of this last candle. On August 27th, I outlined the diamond pattern here on the 4hr chart. Since this was at the bottom of a local downtrend I forecasted a move to the upside, which verified after my trade going long. Now a similar, larger diamond pattern may be in the process of printing at the top of the local upward trend. I believe...

satmastermike Updated 

Bitcoin has enjoyed rapidly rising price levels for several weeks now, but this ascending wedge pattern, along with low volume up against resistance and the fact that metrics show that the big money has been shorting and not buying anything here tells me we will see an imminent breakdown in price. The measured move puts us up against the support line formed from...