Hello trading community,
This idea spawns from something I witnessed Luna do before the crash. On a daily head/shoulder pattern, Traders turned a h/s into a pendant and the final run continued
BTC needs to touch the bottom of the green box (point 3) in order to make the chart pattern an expanding formation. Long term this would become a pendant or a falling wedge.
The Green Box is the same size as the double top difference.
A lot of calls for BTC to go to 18 - 16 hundred, however indicators do not support that right now.
Flash crash for a liquidity grab, reversal pattern on the weekly, run to 48000 - 54000, dip to ~17000 (at point 5)
|
|----> H/S would then become a Falling Wedge
ALTERNATIVELY, they are tapping the top of the green box right now for a run, playing it by ear
This idea spawns from something I witnessed Luna do before the crash. On a daily head/shoulder pattern, Traders turned a h/s into a pendant and the final run continued
BTC needs to touch the bottom of the green box (point 3) in order to make the chart pattern an expanding formation. Long term this would become a pendant or a falling wedge.
The Green Box is the same size as the double top difference.
A lot of calls for BTC to go to 18 - 16 hundred, however indicators do not support that right now.
Flash crash for a liquidity grab, reversal pattern on the weekly, run to 48000 - 54000, dip to ~17000 (at point 5)
|
|----> H/S would then become a Falling Wedge
ALTERNATIVELY, they are tapping the top of the green box right now for a run, playing it by ear