DrDovetail
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Bearpennant breakdown happening like clockwork as I predicted.

BITFINEX:BTCUSD   Bitcoin / Đô la
As you can see the bear pennant I noticed forming 2 days ago while everyone was alreay claiming, "The bottom is already in!" and "We'll never see 7,000 ever again, trust me!" has broken down just like the majority of bear pennants do: Bearishly. Now you can see the price action is dropping at the same angle as the pole of the flag...which I always find rather fascinating when it does that...it will probably diverge from it eventually but for now it's following it to a t. Listed below are 3 potential rebound support zones that I think we could find our rebound on....I'm gonna play it safe and re enter my position just above the blue fibonacci extension 161% support zone at $6021. So I will probably buy back in at $6100. ...I'm still hopiing we trigger a double bottom with the low we had on February 6th which could result in a massive rebound as I have shown the projection target on my chart for something like that. That would keep us from falling to the projected price drop target of the bear flag of $5600...However if we trigger the inverted cup and handle or massive head and shoulder pattern magic poop cannon has been hypothesizing then we could potentially fall as low as sub $3000...however I think if we trigger the double bottom it will skyrocket us back up fast enough that we wont have time to close a confirmation candle in the zone that would trigger the head and shoulder pattern. This is what I'm hoping for. We will see what happens...I think we will tank today and then sometime april 2nd rise like a phoenix, or I guess since it's also Easter.....rise like a Jesus! Happy easter Fool's everyone. Don't let Bitcoin fool you!
Bình luận: we just saw a crazy bull trap, a big boost in bull volume that found a way to close back inside the bearflag on the last 4 hour candle. . .but now o the current 4 hour candle we see we have already turned back around well before the previous bull volume had a chance to establish a higher high which means the bears are still very much in control....my prediction is the current 4hr candle will close as a red spinning top to reverse the trend of the previous bull candle back to bearish. I predict it will close above the t line but then the very next 4hr candle will plummet back down below and resume heading towards our bearish breakout target. By injecting all this bull volume into the market it lifted the RSI(which had reached oversold conditions just before the bull impulse) back to regular levels which only gives the bears plenty of room to dip it further down right around the range I had originally postulated. So this is my prediction let's see if it actually plays out....it turns out that that bull volume spike may have been yet another april fools joke by the whales. Expect more downside and don't give into FOMO
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