Updated

Be Careful. All That Shimmers Is Not Gold...

Looking a little toppy on the weekly. Could move up a little more before the move down. As always, practice good risk management.

Note

Buy the rumor...

Note

Note

And so it begins...potential great DCA oppourtunities ahead folks. Patience.

Note

Targeting .016ish

Note

Potential head and shoulder on the 4-hourly retesting neckline...

Note

A possible course though I am reaching a little bit...

Note

These are just possible scenarios and broadly drawn. No scenario is a certainty, however, so please practice sound risk management.

Note

The next several hours here will be key. I keep hearing laser eyed KAS influencers on twittter talking about hashrate, hashrate, hashrate (alot of these guys bought 10-20X ago and went all in, thus, their irrational fervor) ; but you know what? Miners got to eat too...

Note

We broke down from prior ATH and violently retested it. We have since rejected and will likely continue down. A daily close below prior ATH will likely trigger a large downward move...

Note

*Correction: So, we did get our large downward move after closing our first daily full candle below prior ATH. Obviously, we are back testing that level today. Be very careful folks. People FOMO'ing in here are like sheep being led in to the slaughter. Some insightful chartist have even pointed out that this has been a daily ascending and broadening wedge that has broken down and is presently retesting...

Note

A revised perspective...

BSW01247

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.

BSW01247