Short

Bitcoin's Rotting Banana Wedge

Updated

Does this Chart pattern have a name already? Else let me claim the name name.
Momentum changes/patterns are curves. Straight Trend lines can silly/inaccurate.

Note

now whats special about 4300?

i guess its good that bitstamp is almost leading the price. Yet JPY premium almost gone and chinese prices lower also keeps removes some of the unatrual confidence that has built up through the chinese premimum since a long while.

Note

*removes or "keeps removing"

Note

same on the longer term.

Note

BITCOIN Bubble trend broken. confirmed twice (read description)

Note

looks like bitcoin banana gave it away first again maybe

Note

maybe lower trend is getting stronger (more flat/less fast) now

Note

while i sold old my bitcoin anyway way near to 5000, i guess significantly staying above the 0.786 level or the 3800 could call excite weekend fever bulls once again. China is still $600 cheaper. And most people rationally expect equal odds. Yet many are used to longs being more promising like it was the last 2 years. But bubbles burst and there is a time even shorter where it is a better risk/reward to short bitcoin. And monday could come more negative news. This all is why im neutral except that Weekend is a bit short timeframe as a maximum to cover your long. So long is weaker to me so i will get my weekend sleep and check later. Either direction, be more picky than 1-2 days ago. For the moment it is likely the price will move a bit in your favour.

Note

(traditionally there also could be a bull trap still in 2 weeks or so / positive news at the next bottom)

Note

fineregex

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.