Bitcoin Alternative Setup - Short-Lived Bullish Parabola
Updated
Yes, this is also possible. I am piggish at my core even if I've been leaning bear (due to the ridiculousness of this market/economy).
Should this setup manifest, it will be because a new ATH is reached this week.
Prepare for a very weird move higher following the ATH. It will look like an actual moonshot to 100k after failing to break down to the line of death, but I believe this will be yet another double fakeout around 67k.
That's right - it will look similar to the first whipsaw that occurred a few weeks back. See my first post about the DUAL BARR setup attached below for details. Ultimately, this would turn into a QUAD BARR Top and then a certain crash.
Both Ethereum, and the Dow Jones, are hinting at this type of crazy-stupid move higher as well, so might even say this is the more likely scenario than my post earlier today.
Who the hell knows, ya know?
-Para-Pig
BITBAY:BTCUSD
BITBAY:BTCUSDT
CAPITALCOM:CIX
TOTAL
ETH
DJI
Should this setup manifest, it will be because a new ATH is reached this week.
Prepare for a very weird move higher following the ATH. It will look like an actual moonshot to 100k after failing to break down to the line of death, but I believe this will be yet another double fakeout around 67k.
That's right - it will look similar to the first whipsaw that occurred a few weeks back. See my first post about the DUAL BARR setup attached below for details. Ultimately, this would turn into a QUAD BARR Top and then a certain crash.
Both Ethereum, and the Dow Jones, are hinting at this type of crazy-stupid move higher as well, so might even say this is the more likely scenario than my post earlier today.
Who the hell knows, ya know?
-Para-Pig
BITBAY:BTCUSD
BITBAY:BTCUSDT
CAPITALCOM:CIX
TOTALETHDJINote
The timeline on this is not calibrated.. its more for a look into how the structure may materialize.I do not see such a move lasting longer than two weeks from monday, and even then seems like too many days for this.
Will expect this to begin early this week and end either mid-week or end of week.
Related publications
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.