Hope this idea will inspire some of you ! Don't forget to hit the like/follow button if you feel like this post deserves it ;) Indicators used in this forecast are PRO Sinewave & PRO Momentum. You can check my indicators via my TradingView's Profile : @PRO_Indicators Kindly, Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :
Dagangan aktif
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Today's bearish engulfing pattern on daily chart tends to confirm the potential reversal signal anticipated... Yet the price is still working the speculative area... Validation will be done only if we break down the 10250 support. Until then... no leveraged positions are possible. A bullish breakout is still possible.. (low probability but still a risk whatsoever). Only trading posture here is to short swith low leverage, wait & see... or simply wait for the confirmation at 10250 to enter at low risk..
Komen
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Looks like the buzzy 2014 crash comparison I made a while ago was actually just right ! Despite everything that I've heard back then.. like "it's different", ... now that we have it in front of us... I want to say... was it ?
The BTC crash in 2014 happened because of Mt. Gox versus a correcting market at this moment. totally different scenarios.
You can only compare those trends if the scenarios would have been the same. This is automatically invalidated because of different market conditions.
For all of you reading this, don't miss the boat guys, offcourse keep this in the back of your mind, it's always good to keep both scenarios open. But if we make a higher high above 11.7k, just make sure you are in the market because this will invalidate this forcast.
Please note I sold yesterday on 11580 aswell and im looking to buy back lower aswell, so don't come with the permabull arguement :)
Weavs844
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@robbiegrass, The thing is this pattern is almost playing out perfectly to follow his assessment. Check out the Gold bubble during the beginning of 1980s. Exact same pattern. imgur.com/JkfxP0n
KenBkk
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@Weavs844, Careful with the retrofitting. Any current pattern will have a fitting pattern in the past.
Blaz1985
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@robbiegrass, what about posible Theter problems in near future?
KenBkk
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@robbiegrass, Mt. Gox was not expected. So any new major events might come out of the blue too. But as you say, whatever your position, keep in mind anything can happen. I think people often think you need to pick side, but you dont. Can wait in USD and do nothing for a while too.
RJDTC
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Sorry, I think you are totally wrong, I made the comparison aswell in response to this video, and I am extremely bullish on here. and my analysis has alot more comparison than yours
RJDTC
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@robbiegrass, also check out the updates, lots more to show :)
Weavs844
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@robbiegrass, In your second graph, isn't retesting high after the the first peak down? If it follows the pattern of the first graph we should hit about 13,000 and head back down. If it follows the "high after second peak down" pattern.
Weavs844
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@Weavs844, Wish I could edit comments and fix typos... Hopefully you can make out what I was referring to/seeing.
RJDTC
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@Weavs844, in terms of wave count you are correct. But in terms of patten and retracement levels no.
You can only compare those trends if the scenarios would have been the same. This is automatically invalidated because of different market conditions.
For all of you reading this, don't miss the boat guys, offcourse keep this in the back of your mind, it's always good to keep both scenarios open. But if we make a higher high above 11.7k, just make sure you are in the market because this will invalidate this forcast.
Please note I sold yesterday on 11580 aswell and im looking to buy back lower aswell, so don't come with the permabull arguement :)