Classic Falling Wedge vs. Head & Shoulders matchup on BTCUSD

5 Jan 2022

I personally feel like the falling wedge is going to prevail here with maybe a bear trap wick below the head and shoulders neckline. However until it has clearly picked a direction I’m leaving this idea neutral because we could very well trigger the head and shoulders pattern. If we were to do so, since we are currently still in a bull market the odds of it reaching the full measured move target at 15k is much lower than if we were in a bear market. However if we were to break under 30k on a breakdown from here, then we would essentially be entering a bear market, increasing its odds to reach its full breakdown target. Since we have not seen the final parabolic blow off top yet for this bull market like we have in all other previous bitcoin bull markets, I still think probability slightly Avon’s the wedge but I must remain impartial until I see a clear break either way. *not financial advice*

5 Jan 2022

Catatan

I should also point out that price action is currently inside the Fibonacci golden pocket, although I didn’t include the Fibonacci lines on this chart.

27 Jan 2022

Catatan

We are currently still inside the wedge i just got the angles of the wedges trendlines wrong on this idea. See my most recent idea to get the real shape of the falling wedge.

10 Feb 2022

Catatan

This was indeed a falling wedge cloaked in a fake H&s. In this chart however I did not quite have the exact trendline s of the wedge zeroed in just yet until a few ideas later.