Bitcoin dude what are you doing?

30 พ.ย. 2021

Morning from Amsterdam..

Fresh update for Bitcoin..

Well yesterday i saw all this youtubers screaming about breaking out of this falling wedge and being super bullish about it..

Well i am also super bullish and expect 1 one more crazy bull leg but the charts nevers lie and work ' most often ' in beautiful synchronicity.

What we see is purely price action. nothing less.

We make lower highs and lower lows. Since of yesterday we see the price 2 times attempting to break out of the wedge. If fails.
What does this tell?

We are not yet ready to go higher and expect a pull back to test this BULL Bar. My experience is we at least get to the half of the bull bar (steve nison lessons)

Expecting a pull back between the $55/56K

If we manage to hold that level we will move more to the APEX of the wedge and the trendline in sideways action couple of days and then break out strong!

But for now what i see is 2 attempts to break out that fail (double top) higher high trend reversal.

Al brooks says 40 % of trend reversals result in MAJOR swings and 60% result in minor swings that result in minor losses or profits.

Again patience is key!