Ok so I know this chart doesn't look that good, everything looks like we are going to keep going down, stochastics pointing down, we rejected the .5 weekly retracement, we are under the cloud, BTC drama affecting the markets and any other indicator you might be using its probably telling you there's more downside.
However, from around july 7 and 11 there was something like a bat pattern being completely drawn, the dumpage after the bat and a huge pump, This dumping is starting to look similar and you better keep an eye in how it behaves if you wanna take a trade in etc. If we FOR sure abandon the 0.5 weekly retracement, expect more doom, if we come back right at it and stay above, it will be wonderful to long this prices. :)
However, from around july 7 and 11 there was something like a bat pattern being completely drawn, the dumpage after the bat and a huge pump, This dumping is starting to look similar and you better keep an eye in how it behaves if you wanna take a trade in etc. If we FOR sure abandon the 0.5 weekly retracement, expect more doom, if we come back right at it and stay above, it will be wonderful to long this prices. :)
Komentar:
Notice the difference in the pattern from july 7 to 11, the pattern was forming above the fib, now its forming below the fib.