BTC/USD A local ascending triangle has formed. The price is limited. Soon the denouement.
Notice how the last time after the triangle broke 11, Moses drove the Jews across the desert on paper for 40 years, and the price moved along a secondary downtrend line for 40 days. So now they can introduce uncertainty for a while through sideways movement.
Naturally, after 40 days of uncertainty on the 21st, a breakthrough began from the zone of 9000 thousand dollars (9). Move + 33% to the maximum on day 12. Also think about why it was so important to show on day 12 - 12,000 thousand dollars on the chart (12-12). Do not think, from the point of view of monetary interest, who controls the price of a given asset, he is not interested in money.
After exiting the sideways range and reaching 12 thousand in 33 days from the zero point, the price found itself in a potential reversal zone. Now 23. A triangle has formed.
Let me remind you that now the price is below the local trend line of the uptrend and at the same time above the secondary trend of the downtrend. Which acts as the strongest support. In this price zone, it is very beneficial to chat about price, instilling uncertainty in the crowd. Then they will make a price movement contrary to the expectations of the majority that will form.
If they decide to draw an upward pennant, the height of the flagpole is 33%. If triangle local targets - base width 16% Who understands, I shake hands virtually. 1318
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The triangle is broken down at the moment by 16%
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Price is squeezed into a corner. Soon the outcome of the situation.
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+8.88% + 8.88% from the reversal zone in the local ascending channel, as shown. Enters the second reversal zone.
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about + 18% from a safe entry above the reversal zone. From the reversal zone +21%
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+ 13.76% the local target is taken with an accuracy of almost a fraction of a percent. No "cheating" or "sleight of hand". Understand where you are, who you are, what is the meaning of everything, throw the "cult of money" out of your head - the world will change. And if not, you will always be at the bottom of the pyramid with the insatiable desires of the "eternal hungry character".
Non random numbers ? I will have to do some research on it Top of this Gann Fan appears to be 16xxx . These are the only Trading View Posts that i feel i may need to go do research afterwards ! Thank you Sparta !
Thanks for sharing.
I agree the price movement will be contrary to the retail expectation. The sentiment is fairly neutral for now. Need more bearish view to fuel the break out. Meanwhile, consolidation seems very likely.
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@Phi-Deltalytics, I did a survey in my channel, but the result does not make me very happy:
1) People adherents of price growth. - 31%
2) People are adherents of falling prices. nineteen%
3) For lateral price movement in the range of 10-15% (doubt) 50% of people.
In order for the price to rise, you need to make sure that most of those people who doubt become supporters of the fall.
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@SpartaBTC, totally agree. Bitmex bias is neutral too. Need to be more bearish... I think it really means we'll see 11k soon. Potentially with another long wick to the downside.
@GlenGoodman, Yes, this is quite possible and not particularly scary, the main thing is that the price does not return back below the downtrend and does not gain a foothold below it.