Riester

Riester

Watch for rejection of 11450 as right shoulder

Riester

Strong bearish divergence and overhead wicks at 11500. Heading back towards low of parallel channels, both the LTF orange and HTF light blue channels. TL resistance from 12500 head and 12100 right shoulder of H&S pattern to 12500 would be retested as support @ 10750 10750 is an important horizontal S/R area ABC breakdown: retest 0.618 FIB level - A = retest of...

Riester

For posterity

Riester

HIGH TIME FRAME: 1. Ascending TL support from March Dump with potential backtest as resistance. Rejection of 10850 is very bearish 2. Descending TL resistance from early August testing again as resistance. 3rd test of this TL. More tests = weaker S/R 10850 is critical S/R for TLs. Watch carefully 3. 12H RSI is has retested orange MA (30 day) as support. A...

Riester

1. Reject TL resistance @ 10850. Reject OBV channel resistance 2. Fall to TL support @ 10150. Test OBV channel support 3. Break TL support and retest. Break OBV channel and retest. 4. Fall to HTF major TL support from 2018 @ 8900

Riester

The trend line support that has bolstered the price since the March Dump has been retested as resistance. In tandem, the 12H RSI has retested the MAs as resistance. Higher time frames are already bearish, so as LTFs flip bearish, it signals that the dump is nearing. As CT has pointed out, the next major demand zone is 8900...

Riester

Chart is self-explanatory.

Riester

Got to love the fractal nature of Bitcoin. Right around the halving we break the Trend Line resistance. Next, we retest as support. Finally, the bull run takes off in a parabolic fashion. This retest is the confirmation we need to show that the downtrend of the descending triangle is finished. The bear market downtrend is finished. To the moon...

Riester

1. Price & OBV both in triangle consolidation 2. OBV looks to be heading down into Wave D 3. Price could breakdown form triangle and retest 10600 where OBV wave E could begin. 4. From 10600 we either pump or dump. Either way 10600 is critical to what comes next. Whatever happens it appears 10600 is coming, as price, OBV, and even RSI have bear diverenges.

Riester

1. MA supports 2. OBV weakening on downtrend (bull div) 3. RSI bull div, also testing MAs as support 4. Appears to be a ABCDe triangle consolidation 5. Already wicked to 10600 support, now print HLs in this triangle.

Riester

1. Test channel resistance 2. VPVR liquidity 3. Known supply zone 4. Currently, RSI and OBV on LTF are weakening as we climb... Enter at 11300 and short to 10600 at least.

Riester

1. 10500 support retested as resistance 2. CME Gap ends at 9660 3. Trend Line resistance from 2018. Nice retest would create a strong demand surge from which we can launch to the moon

Riester

Click the link to the schematic of Wyckoff Accumulation and determine for yourself: www.google.com In conjunction with this, @IncomeSharks on Twitter pointed out the OBV indicator repeating the accumulation phase we experienced from May-July 2020. twitter.com I'm buying the dip

Riester

Consolidation before continuation downward to close CME gap (Target 1) and retest HTF trend line resistance as support (Target 2).

Riester

Triangle consolidation is a corrective pattern that tends to lead to continuation. I'm thinking we are finishing Leg C of OBV ABCDE triangle, which will lead us to close the CME gap at 9650-9900. Then Leg D will impulse us to 10900 where we will retest the HTF demand zone as resistance. Then we come down a bit to finish off Leg E around 10500, which is a major HTF...

Riester

No explanation necessary. There are three trend line supports. If we break below 9700ish we are not sitting well for the bulls.

Riester

1. CME Gap @ 9660-9925. We have entered the gap zone, so we should we should continue to drop until it is closed at 9660. 2. Trend line resistance from 2019/2020 highs was broken through on our way to 12k. I believe this will be the proper retest as support we need to move onto to higher price levels. You have to establish a floor (support) before you can climb to...

Riester

On the low time-frame the SPX has a blatantly obvious broadening wedge. This tends to be a bearish pattern, as volatility is increasing to the downside more so than the upside. From a fundamental analysis perspective, the economy is valued at the highest it has ever been, but the economy is the worst it has been in almost a century. Something has to...