Resistance Line: At least two highs are required to draw the upper resistance trend line. For the descending broadening wedge to be a valid pattern, price action should be creating lower highs.
Support Line: At least two lows are required to draw the lower support trend line. Price action should be creating lower lows in order for the pattern to be valid.
Price Action Expansion: The distance between the resistance and support lines will expand or widen as the pattern develop
Original idea: Get in the train and ignore your fear, ATH in 1-2 month
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Still valid, watch for breakout in next 1-2 days
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Inverse H&S inside the WEDGE which is more bullish pattern confirming breakout in the next 1-2 days
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The wedge still in play and developing as expected although it took longer time but the wedge resistance has been confirmed with 4 times touch lower low. As well as 11/11400 area holding very nice.
I am expecting breakout to upside in anytime very soon. Watch out!
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Watch out! We got the WEDGE Breakout! (click to read details)
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Bitcoin free fly incoming! (click to read details)
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As we said in last update, if the price go below 11500 with 4 hr candle close this will invalidate my view but We have got 4 hr candle close above 11600 twice and its very clear btc is reversing right now , We have got hidden bullish divergence on 4 hr which is very clear:
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Not only 4 hr bullish hidden divergence but also 1 hr classic bullish divergence as well as macd crossover, have a look:
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1hr classic bull div + 4hr hidden bull div ( CONFIRMED ) When i published this idea ( Bitcoin free fly incoming! ) before we drop from 13k level, I did explain its still incoming and retrace to 12k level is very possible and we did retraced below it as well as i said we should wait 2-3 sideway moves before shooting upside So the idea still in process and so early to judge when dealing with 2d time frame even if we got closed below 11500 in lower timeframes but we did reverse very nice after we spotted divergences just in time before it complete and we did share with you!
I really wonder some people who asking for updates privately or in comments without even pressing like to the idea!!! Another thing i would like to point out, look to the trend line:
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Bitcoin bull run fractals on daily - Targeting Golden Ratio! ( click to read details )
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1hr classic bull div + 4hr hidden bull div + 1d hidden bull div ( Completed )
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Correction is almost over - no need to panic! Although we got lower price but in my opinion it doesn't invalidate anything yet, divergences on lower time frames most of times are complex but its a clear sign that reversal is coming. So if we look to the daily, we can adjust the trendline and today candle close will tell us if its still valid. The pattern will turn to be a large pennant more than a triangle and both of them most of times are bullish when formed in uptrend.
The fractals on daily rsi&macd are almost completed so yea today should be the day to make it or break it. daily close below 10300 going to be very bad.
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Reversal: Resistance Turned Support - ( click to read details )
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Trap: BTC below $10,000 for the last time! ( click to read details )
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Anyone wondering what is the count for the previous bear market correction in my opinion:
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Check last idea to read updates:
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BTC is out of RED zone .. $23,000 Could be a new ATH! -- (click to read details) follow idea to get updates.
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Will BTC take over this stubborn resistance this time! ( click to read details )
@mc_peewee, why you react aggressive to someone commented in MY POST!!
deactivatedaccount123
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@Jocoin, Was looking at front page ideas and saw yours. 'congrats.'
Check his post history. He's a comment spamming piece of shit, just like a lot of other 'top' authors. This site is a legitimate joke.
Report my comment for fuck sake. Who cares
TradingMula
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licking my fingers!
Jocoin
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@YMula, Lol, me too buddy
Je_Buurman
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@Jocoin, you are also licking his fingers?! iieeeuuwww
Jocoin
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@Je_Buurman, mine for sure! What kind of joke is that . You are not funny
Jocoin
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@Je_Buurman, you stop to my post to just read comments !!! Thats only thing got your attention!!