Wyckoff distribution/Inverse cup/Bear ascending expanding wedge
Killed it on the last analysis.
There are alot of bearish indicators however it appears there is one more rally to the upside to complete the bearish ascending wedge, the right hand side of the inverse cup and the expanding wedge.
Happy to 5-10x long here into a 5-10x short around 50k.
The top bottom and central lines appear to originate from the 3.5k final dip before the bull run.. Now the central curve is providing resistance/support with 20-25% bounces off, usually with the retest going through. This is the basis for my understanding that another rally into the upside of the expanding wedge formation is possible.
There are alot of bearish indicators however it appears there is one more rally to the upside to complete the bearish ascending wedge, the right hand side of the inverse cup and the expanding wedge.
Happy to 5-10x long here into a 5-10x short around 50k.
The top bottom and central lines appear to originate from the 3.5k final dip before the bull run.. Now the central curve is providing resistance/support with 20-25% bounces off, usually with the retest going through. This is the basis for my understanding that another rally into the upside of the expanding wedge formation is possible.
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