a1Keith
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BTC GOING DOWN to 4000? Fireworks for Chinese New Year

BINANCE:BTCUSDT   Bitcoin / Tether
BTC             is still in a downtrend . It has not touched Line 2 since January 13 .
It has rejected precisely from line 3 twice and it is at the line again now.
We expect the trend to continue until we see a new pattern.
A new pattern would be a breach of line 3 then line 2.
It would require some major event to push BTC             above 10500 which would cause me to be bullish .
However a rejection from line 3 could target a price of 4000 within the next 2 weeks
评论: Head and Shoulders on one minute chart
评论: To negate this pattern we must stay above 10300
评论: ETHBTC certainly in a downtrend. Perhaps we will get one more visit to 0.1

评论: BTC has cleared line 3 and line 2. This photo shows line 1 at the upper parallel of the pitchfork.
We are at an important resistance now 10400. Next stop 11350.
We could get a large retracement there. It may be a place to take profit and reenter lower.
评论: I have adjusted the descending lines within the descending slope. High so far 11270.
Followed by a quick rejection into support on 75centile line of small ascending fork.
Three lines converge at 10am NY time when markets open after 3 days. Maybe it is then that we will see the fireworks.
i've shorted cause everyone's turned bullish. i bought when everyone was bearish. lets see how reverse psychology plays out #altcoinparty
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a1Keith Basil13
@Basil13, I think that the majority must always be wrong. BTC peaked exactly on schedule. I mentioned 11350 but it went slightly higher. If it does not hold current price 10800 then we could look for a bounce at 9300 when it hits line 2. If it breaks line 2 then I would look at about 6000
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It broke both your lines...
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a1Keith DrixlRey
@DrixlRey,
And i expect it to reach the continuation of line 1 ( top of descending fork) around Feb 21. at a price around 11350
But I am more interested in how price approaches and penetrates the line . For me the most bullish is a slow steady approach which pushes through then gains support ontop of the line. ( see 1 minute chart above for example) The two points that form the upper parallel both had rapid approaches and equally rapid falls.
Unlike other traders, I am neither bullish nor bearish. I just look for the strongest pattern and go with that. When the market changes I change my opinion. If I see price bounce along the bottom of the line and fall away more each time then I become bearish
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It should definitely go down to be healthy for the next bullish wave. I expect it to be testing a price of at least 7500.
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