Short

Descending Triangle Formed BTC 07/12/2021

By brendanlonson

Updated

Big buy order at 20k, little bit more at 17k, then 10k and 7k if it can get down there.

Note

Note

The more times it tests a support, the weaker the support gets, especially when each bounce is less and less each time. Everyone who was buying at 30k support is starting to sell after not seeing any movement past 40k.

Note

BTC SHORTS

Note

I mean......

Note

BB Squeezing, Potential Solid Red Candle breakout to the downside.

Note

Bear Flag formed

Note

Bear Flag - Down

Note

this is kinda what I'm looking for at the moment

Note

Any time you have solid candles closing in the section of previous wicks, it means the previous wicks are giving way and about to continue trend, in this case down.

Note

It's basically a bear flag and has this kind of formation, excuse my sloppy drawing

Note

It's basically doing this, taken from AUD/Yen

Note

A look at the daily candle structure. The hammer formed yesterday was a potential sign of a bullish move, but the candle today invalidated that and actually says the opposite, that 30k support is weak and we could head down to the next level at 20k.

Note

Day's not over yet though but if it closes like that it's not nice.

Note

Chaos 3D indicator by PolarSolar, showing huge potential for continuation of downtrend.

Note

Above Purplish-Pink line = bullish #1 (2017)

Above Purplish-Pink line = bullish #1 (2020-2021)

Below Purple and Red lines = Bearish #1 (2018)

Below Purple and Red lines = Bearish #2 (present)

Note

Looking at BB, it seems like we like to hug that middle orange line. We are below it, so it could magnetically pull us back up to it, even if we drop down from 30k to 24-20k-17k.

Note

just die already lmao

Note

Just some possibilities, not really sure what pattern is gonna form and I don't care haha, just getting ready for what might happen

Note

Bit Bay

brendanlonson

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.