Prepare for "max pain". It's a real thing, and it's coming.
May 11
A very basic and simple - yet very telling - monthly log chart with a superimposed S-curve alongside simple trendlines of support and resistance seems to indicate Bitcoin may be preparing to retrace to the $8,500 range before we see anymore blue skies. Stay alert, set your stops and make sure you're taking profits when you can! Don't forget to pay yourself! Happy trading - Happy Days
Nov 1
Trade active: Just would like to offer a quick update and a visual reference to anybody that might've missed this when I posted it back in May ('22).
It still looks as if this will play out as expected so, I opened a short position today.
Update & re-post: Would just like to re-iterate my position on BTC as the failed support and ascending wedge pattern continues to play out in light of the recent FTX debacle, which I believe will be the perfect catalyst to break this puppy wide open all the way down to the 8-9k range where the current point-of-control is sitting.
A very basic and simple - yet very telling - monthly log chart with a superimposed S-curve alongside simple trendlines of support and resistance seems to indicate Bitcoin may be preparing to retrace to the $8,500 range before we see anymore blue skies. Stay alert, set your stops and make sure you're taking profits when you can! Don't forget to pay yourself! Happy trading - Happy Days
Nov 1
Trade active: Just would like to offer a quick update and a visual reference to anybody that might've missed this when I posted it back in May ('22).
It still looks as if this will play out as expected so, I opened a short position today.
Update & re-post: Would just like to re-iterate my position on BTC as the failed support and ascending wedge pattern continues to play out in light of the recent FTX debacle, which I believe will be the perfect catalyst to break this puppy wide open all the way down to the 8-9k range where the current point-of-control is sitting.
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