D4rkEnergY is everywhere in the universe. D4rkEnergY is the stuff that makes space expand and even accelerate. Astrophysicists have known that for quite a bit of time. D4rkEnergY is now also in the Crypto Community. He started making public charts only 4 days ago, but has already managed to become the daily and weekly TOP AUTHOR.
D4rkEnergY is not surprised. This unknown force has already revolutionized and has taking TA to another level with being right almost every single time! Let us begin...
We are here looking at the 4h BCHUSD chart. 13 days ago we had, what seems like a reversal, after BCH had a pretty big retracement more than 80 % from its ATH (all time high). We had a really steep uptrend followed by a nice bull flag which took us even higher.
We have the last 3 days going sideways. We have not managed to make higher highs or higher lows. This has probably something to do with that we are fighting the strong EMA 200, which acts like huge resistance. So the consequence we are facing right now is the famous HS pattern (Head and Shoulder), which predicts that we must go down.
And this basically makes a lot of sense, since we havent had a decent retracement since the start up the uptrend.
Expect therefore we will go down. I have made a buy zone for you and used the Trendbased Fibonacchi Extension tool to set our target. Always remember to put a stop loss. And don not just buy blindfolded. Keep monitoring the chart closely. Look for volume, RSI and the MACD.
You are welcome, guys!
OUT D4rkEnergY is everywhere D4rkEnergY predicts everything
Commento
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So at this very moment it seems like on the smaller charts, that an ascending triangle is about to appear (also on the RSI), which means that we might go a little higher and NOT fall through D4s (admitted) not so convincing HS pattern.
So the big question is if we go higher, can we make 3 higher highers?? D4 thinks it will be hard, but its definitely not impossible.
If we DO NOT make a higher higher, we will go into the bigger descending triangle, which means that we will go down from there, and have the retracement D4 thinks is needed.
@D4rkEnergY, yep all fits brother
keep defining our
'cryptoverse'
;-)
Doc-al-Citadel
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C a s h e n i n g
tradmantd
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sure? your SHS looks quite funny ;)
D4rkEnergY
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@tradmantd, D4 agrees with you. This is definitely not one of the prettiest HS patterns. But it doesnt really matter. What matter is, that we probably not will make higher highers or higher lows, so either it will be this kinda funny looking HS pattern or it will turn into a descending triangle, which also will squeeze the price down.