This chart illustrates a potential Wyckoff Distribution Event, signaling a bearish reversal pattern. The rounded top formation suggests distribution at higher levels, with multiple LPSY (Last Point of Supply) indicating selling pressure.
Key takeaways:
Upthrust (UT) in Phase B marked as a key rejection zone.
While people are watching the green lines, i believe...
The chart tells a story of uncertainty and potential opportunities in the market. Currently, the price hovers around $99,898.54, but the real tension lies in two key levels: the resistance at 102K and the CME gap around $78K.
The text on the chart emphasizes the critical decision the market must make. "We have to break 102K for a higher high, or else a downward...
This chart shows an overall bullish pattern, but with some signs of potential uncertainty. Here are the key observations:
Bullish elements:
Rising trendline (orange): The price is following an upward trendline and respects it multiple times. This indicates strong support and buying interest.
Bullish consolidation pattern: The downward channel seems to have been...
The Tale of the Unbreakable Dickbutt Trendline
Long ago, in the sacred lands of Degenville, the Legendary Dickbutt Trendline was born. Forged in the fires of pure meme energy and blessed by the ancient prophets of "Buy the Dip," this trendline became a beacon of hope for degens far and wide.
They say it was first drawn by a mysterious trader known only as Sir...
A falling wedge is a bullish chart pattern often signaling an upward breakout. It forms as price makes lower highs and lower lows within converging trendlines, with volume decreasing over time.
Key Points:
Breakout Direction: Falling wedges typically break upward, with a 65-75% chance in downtrends (reversal) and even higher in uptrends (continuation).
Volume: A...
