The amazing thing about bubbles is on the way up every day looks the same. Consecutive large % moves higher make every up day look like the blow off top and also make every previous day look like just the beginning of a parabola…even though at the time they all looked like blow off tops.
It’s the same with the draw downs. Every sell off looks like the first sell off of significance. When in reality, every sell off in the past has had a near identical chart to the one above.
It’s amazing how much better TA looks whe in the rear view mirror. Nov 9-13, Nov 21 for examples. That’s the rason that for hgih-volatility assets, you should use Log scales
That’s a secular bull tossing people off its back. Nothing in the recent high (on that chart) looks like “the” top. I say a correction to the 22.Nov price point…and then the bull resumes.
Old fashioned fraudster circle jerk. Vol pumps as the boiler room loads up. Then calls go out. Pump me and dump me. The circle dumps at the end, and the poor fucking muppets also sell into declining vol. Wash the stains out and repeat. Works from 1900 onward. SEC? They only go after Marthas.
It’s a confirmed head and shoulders top from a prior vertical move. It then came back to form a high double bottom or W which is not a high percentage pattern typically…that pattern failed confirming the top and creating a ‘fast’ move lower for those buying the ‘w’ bottom and the resulting bullish flag. It has a long way to go to be buyable again… It has to form a solid base and deal with all that air below. This will take months.
I was just looking at the chart read itself…I ignored whatever asset it was, and the timeframe. I interpreted as a weekly actually but now I see it as daily TF…for daily TFs I like to lineup up with weekly …but some logic applies…base needs to reform and that would take weeks in a likelihood.
could be the beginning of a short term reverse head & shoulders, but that’s the optimistic view
Hmmm, interesting.
More.
given the uptrend it’s in, have to give that at least some consideration
The amazing thing about bubbles is on the way up every day looks the same. Consecutive large % moves higher make every up day look like the blow off top and also make every previous day look like just the beginning of a parabola…even though at the time they all looked like blow off tops.
It’s the same with the draw downs. Every sell off looks like the first sell off of significance. When in reality, every sell off in the past has had a near identical chart to the one above.
Excellent analysis.
It’s amazing how much better TA looks whe in the rear view mirror. Nov 9-13, Nov 21 for examples. That’s the rason that for hgih-volatility assets, you should use Log scales
Yes more, what else do you see? Tell me my fortune.
coronary
Looks to me like its on its was to $100k
Obviously it’s wedging into support
That’s a secular bull tossing people off its back. Nothing in the recent high (on that chart) looks like “the” top. I say a correction to the 22.Nov price point…and then the bull resumes.
First stop just above $7000
Old fashioned fraudster circle jerk. Vol pumps as the boiler room loads up. Then calls go out. Pump me and dump me. The circle dumps at the end, and the poor fucking muppets also sell into declining vol. Wash the stains out and repeat. Works from 1900 onward. SEC? They only go after Marthas.
Stiglitz: “Outlaw bitcoin!”
inverted cup and handle.
Madam Zeronis crystal ball says brace yourself for lower prices.
how to get a seat in China …or the Chinese Rosa Parks
https://www.liveleak.com/view?i=62f_1512025984
It’s a confirmed head and shoulders top from a prior vertical move. It then came back to form a high double bottom or W which is not a high percentage pattern typically…that pattern failed confirming the top and creating a ‘fast’ move lower for those buying the ‘w’ bottom and the resulting bullish flag. It has a long way to go to be buyable again… It has to form a solid base and deal with all that air below. This will take months.
Kindly regarding,
Mao Junior aka TraderAlamo
I was just looking at the chart read itself…I ignored whatever asset it was, and the timeframe. I interpreted as a weekly actually but now I see it as daily TF…for daily TFs I like to lineup up with weekly …but some logic applies…base needs to reform and that would take weeks in a likelihood.
Failed double bottom. Not going back to that false price for a while could take months.
Partially Submerged Submarine
Will it Dive
Only Davy Jones Knows
A BTFD opportunity?
I see a lot of butthurt in that chart.
What did I win?
spoofing? pump and dump?