At the cusp of violent volatility. Price Action broke out of an ascending triangle previously discussed. The measured move of this ascending triangle is 77.4k.
However a rising wedge has been painted. If price action break up from this rising wedge this will result in a blow off top reaching 110k.
Otherwise, if price respects the rising wedge then it will be a start of a sustained trend down to close the cme gaps like in March 2020.
Komentarz
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The odds of a break down from the rising wedge have increased. Not sure if price action will close this weekend gap. Maybe this weekend gap will be closed after the gaps below are closed.
Why not both? Blow-off top to 110k then crash down to CME gap at 26k, seems about right based on previous BTCUSD boom/bust cycle.
nagihatoum
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@RobBiddle, Blow off top is always followed by a crash, Blow off tops from rising wedge always crash as well and lower than their base. So yes. This scenario also fits the logarithmic bands.
MMBTtrader
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hi my friend great job
i am some how 70% with short and bearish one
thanks for sharing
nagihatoum
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@MMBTtrader, It has to drop this week, or it is very bullish.
dRends35
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Is there really enough steam for 110K
nagihatoum
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@dRends35, it is not steam powered, it is irrational money out thin air powered.
yozr23361
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a scary game started bull trap only, Thanks for sharing
Thanks before id you want