Stll inside bearflag but dscndng trndline holding strong supprt

12 окт. 2018 г.

Things are looking fairly bearish aside from the bear fakeout from the flag. The fakeout only brought us back inside the bearflag though making it still very much in play. Probability still favors a breakdown and it will likely take a rare inverted bart to nullify the bearish momentum and send us upward. One slightly bullish thing at the moment is the green dotted descending trendline which has been serving as a solid support line for quite some time now. We can see the latest bear plummet also found good bounce support at this trendline. This trendline is also a potential top trendline to a weekly descending triangle pattern on bitcoin which I will post a zoomed out snapshot of directly below this in the updates. I have a feeling we are nearing the end of the bears momentum and anticipate that we will stat above 5.5k. However I am also prepared for the exact opposite in case that expectation is broken. I am no financial advisor but I would suggest you be always be prepared for both your anticipated outcome and the exact opposite outcome. Thanks for reading. Good luck.

12 окт. 2018 г.

Заметка

You can see here how the dotted green trendline here could potentially be the real topt rendline of this weekly descending triangle pattern in white. If so we will have officially closed 2/12 weekly candles above this line and if we can close the current weekly candle above that green dotted line and maintain support if that line is indeed the top trendline of this descending wedge then we could finally see a big bullish breakout triggered...of course the real top trendline of the descending triangle may not have even been reached yet but currently the dotted green trendline is still potentially int he running to be the real top trendline...something worth keeping an eye on. s3.amazonaws.com/tradingview/snapshots/h/HlGdek28.png