CryptoBuzzAnalyst

[BTC-USD] FALLLING WEDGE -ROCK BOTTOM STILL POSSIBLY COMING?

COINBASE:BTCUSD   比特币/美元
After my analysis, I have determined that I temporarily disagree with other analyst in which they have determined that a bullish reversal is coming or near. We have been in a negative trend for quite some time now. It astonishes me to see that just cause today Feb 7th, Tuesday has been a decent day in crypto and BTC             specifically watching BTC             go back up a little , other analyst so confidently can predict true reversal.

In my humble opinion, I still believe that BTC             is suffering from significant volume as shown on my chart. To prove this , it needs to have a SIGNIFICANT amount of buying volume in order for that bullish reversal to take place. At this point, I am personally staying away from buying any more BTC             until I get a better micro picture of this holistic bearish trend-( Falling Wedge ) that I continue to identify.

On this chart I have identified 3 different testing targets in which BTC             will test on its way down in order to complete if cycle and then begin a true and real reversal as identified on my chart. There needs to be way more volume for a true reversal to take place!! That's not going to happen until it reaches rock bottom in my opinion!!!!#!! We saw that on Feb 5th went down as low as 5k or so, testing a lower low. Well I think that was a brief sign of just the beginning. As projected in my analysis I still think it can go down about 40% -50% lower from todays             price of $8,033-$8,200 from what I see.

Of course, NO one has a crystal ball, but this is what I see and for the time being and for now I am not convinced that a true healthy bullish reversal is in effect. So in conclusion, be careful with BTC             , you could potentially tank 40% to 50% down more if you buy now. Do you own homework with your own analysis. Do not follow the sheep, including me. Think critically and make your own final determination of predicting where the market will go with BTC             .

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CryptoBuzzAnalyst
Doesn't a falling wedge on a downtrend indicate a possible reversal?

I'll be watching and waiting incase your bear comes for lunch.. :)
回复
@tripjscrypto, Yes , but not at this point, which is my opinion. A falling wedge is considered bullish,but only when its about to make that reversal. At this point in time, I don't think now is the time! It still has a little more to go maybe 2 more weeks for it to complete! I still believe it will tank a lot more!
回复
tripjscrypto CryptoBuzzAnalyst


@CryptoBuzzAnalyst, I asked because patterns (wedges, pennants, etc) are something I'm trying to add to my TA. I just got done doing an LTC TA review and saw what I felt was a falling wedge with a double bottom (see above)
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