ETH is at the top of raising channel Momentum is down, so I am entering short here
Trendline from 2019 will show us direction for next few months I added only 2 new trendlines and 1 fib circle to the chart from 2019 Play my pinned idea from 2019 and played it till end and you will see where are we now
* With blue circle(green wave 4) on the right chart I see similarities with circle on the left chart(green wave 2) * We are currently in wave C(pink) in correction of wave 4(green), which is fractal of wave 2 (green) * Because wave B(pink) in wave 4(green) is higher then wave B in wave 2(green), there is also a possibility that wave C(pink) make a double...
* PINK LINE = 21 weekly EMA * GREEN TRIANGLE = descending triangle * RED TRIANGLE = descending triangle or bearish pennant * WHITE CIRLE = breakout from the triangle * YELOW CIRLE = small bounce from dump * GREEN CIRCLE = relief rally * PINK CIRCLE = breakout from the pennant
-If we close weekly candle bellow 21 EMA , its bearish as my ass -Crossing most important fib circle from 5 year cycle in next 2 days
There are some bullish short term sign, which can push BTC all they up to 11500, closing above it its game changer, but till then im still mid bearish and expecting bigger drop soon
I see there is over 50% chance that we will see a break out of that forming triangle, but it will be a bull trap, because btc will meet few resistance and Fibonacci circles, followed by bigger dump