30min timeframe accumulation has ended. Perhaps finally time to embrace the bear wave.
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Minor correction on back test.
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Also, to those following my previous ideas recall my chart targeting 8190.
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Sucks that this idea is no longer a ‘popular idea’. Ha ;)
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Will likely breakout of current distribution (check 1min) if true bear rally has begun.
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Meant on inverted scale. Here’s a chart.
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My bad. Even better, it was accumulation.
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For fun, let us see how this forecast channel holds up.
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I’m clearly a gambling man.
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Should have guessed it would have first went higher bc I had already tested the white line indicated by teal vertical. Updated fun forecast.
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Last fun forecast then I’ll stop spamming updates.
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Ouch. That’s why you shouldn’t trade based only on 1min. On 5min we see that 1min pulled back to about the price at first bounce in the broken wedge (pull back price = red ray). If 5min doesn’t break above current wedge then price could pull back to 8665 on 30min.
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Could be a great price at which to bounce...
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Could be a breakout. Let’s see where c finishes.
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More likely an extended fifth bc wave 3 didn’t reach 1.61 x wave 1. I’m still waiting for pull back.
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Ok and that could have been the pull back...
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Here’s the pull back. Notice wave 1 pulled back to .786. Wave 5 ended 200% higher.
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Consider showing a little support if this idea helps you to profit. If you do, you can find my trading wallet address in my profile. BTC only. I use PrimeXBT which only takes it for deposit.
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Looks like 8575 didn’t hold. Could pump a bit.
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Forget that teal line.
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Can you feel it
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There’s that fucking snake
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Get ready for the pull back to test support.
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Also, for those interested I published an updated idea.
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You can support these ideas by sending only btc to the wallet in my profile. Buy buy buy till target.