The pattern was already in danger because it was taking too long, now it’s officially off the table. I am not sure if it were the Bart move people who stopped the price at 3500 or that it was just the market, but i have some signs (when looking back the past hour) that my first assumption that they are back in the game again might not be wrong. I will show that later or make it an educational post even. I think i will try to do that tomorrow. As i mentioned it before, i really hope i am wrong about this, but just in case, i want to show everyone the very clear pattern they use, hoping this leak might go away because of that 🙂
That triangle i kept showing today, from which it seemed like we broke out of it, is most probably still in play because of this drop. If the current support (3380ish) brakes, i see 3 options happening:
1:, Make a higher low around 3330/50 and if it turns up there with decent it might break upwards. Needs high with the breakout of the triangle, otherwise simply assume it will drop again sooner or later. has played an extremely important part the lately.
2: We test the 3300ish again, get a fake (small) bounce and turn down and break that green support. If it goes like that, and we see some at the break, we can expect a big fast dump to happen towards 2800. Which might make that daily in play again i showed a while back. The 3200/50 has been a support as well during the weekend, so it could be the last support
3: The support at 3200/3300 looked very real to me the past days, so if we start to see some wicks again in that area, as we have seen before, it could mean that support was real and was not only there to shake out bears. Than we can still see a move up, but i am not confident about this scenario, since the current attempt failed already.
If you remember from my previous analysis, where i mentioned those big spoof sell order on Bitmex that pushed down the price below the 3300. Below the 3300 there were a lot of buy orders waiting to get filled. That moment made me talk about that scenario. Thinking the whales showed their hand there. This together with the previous wicks in that 3200/3300 gave me confidence to think we will move up. It did, but did not even get close to the 3600 and got stopped hard at 3500.
So my best guess is, making a higher low like scenario 1 or see high wicks at lower prices above 3300/3280. Otherwise it will be scenario 2.
I have a up my sleeve, but i am not ready yet to post it. I will show it AFTER the first move has been set. I have my reasons for this. Not even my own members or VIP’s even get to see it. So be patient :). Even if it fails i will show it you, so you know it’s not bait or anything.
Previous analysis:
Published at Thu, 13 Dec 2018 04:03:27 +0000
