SHORT BTC (Prj.2019.P04.E05).MicroLevel.Target

As per chart outlay, a possibility rather than the downward wedge which most think it is.

Previous post

코멘트:

Chart update: Tracking both scenarios.

코멘트:

It seems it was the Wedge as per previous post

코멘트:

거래청산: 타겟 닿음:

Target reached for what I envisioned. It can go higher but I will settle for this price..Note, This time round I had the fib fan accurate to help me draw the predicted path, As for the channel, its invalidated after it broke out of it. My next post shows how many wedges played in the Macro formation.

코멘트:

As you can see on the RSI, its hit the critical level which I indicated with the red region.Also note, how confluence is with the fib. pitchfork.Plus RSI indicating bearish divergence. Hence the reason for selling.

코멘트:

other confluences.
Double top, RSI level, Upward wedge, previous resistance level, + fib.fan and fib.pitchfork lines, all say sell.

코멘트:

코멘트:

As per the original idea, I'm also considering this channel as we found the new line for ABCD

코멘트:

There is an upper part to the channel and lower part. Currently its sticking to the upper quadrant as per the fib.fan (orange lines).