SHORT BTC (Prj.2019.P04.E05).MicroLevel.Target

As per chart outlay, a possibility rather than the downward wedge which most think it is.

Previous post

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Chart update: Tracking both scenarios.

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It seems it was the Wedge as per previous post

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Trade chiuso: obiettivo raggiunto:

Target reached for what I envisioned. It can go higher but I will settle for this price..Note, This time round I had the fib fan accurate to help me draw the predicted path, As for the channel, its invalidated after it broke out of it. My next post shows how many wedges played in the Macro formation.

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As you can see on the RSI, its hit the critical level which I indicated with the red region.Also note, how confluence is with the fib. pitchfork.Plus RSI indicating bearish divergence. Hence the reason for selling.

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other confluences.
Double top, RSI level, Upward wedge, previous resistance level, + fib.fan and fib.pitchfork lines, all say sell.

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As per the original idea, I'm also considering this channel as we found the new line for ABCD

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There is an upper part to the channel and lower part. Currently its sticking to the upper quadrant as per the fib.fan (orange lines).