BTC forming a typical reversal pattern back to 60k?

2021年8月2日

Hi guys,

here is pretty much everything summed up in one chart what my thoughts are..

- currently we reached resistance of our channel at around the 42k range or also top of our range
- we got a bunch of bearish divergence forming so a pullback seems very likely in the books
- if we do make a pullback here in a standard ABC correction with our golden pocket ratio showing 33k range, we would set a higher low on the daily
- this would also complete our inverse head and shoulders, with measured move back to 60k (if we confirm and break out of of our range of 42k)
- this would also complete and match with our Wyckoff accumulation schematic #1 where we are building an LPS before launch towards SOS or break of our range
- SOS is somewhere between 45k-48k imo, since that is our CME gap that still needs to be filled
- we still have a little CME gap to the downside as well around 33k, which also matches with that retracement we are probably going to set in the next few days/weeks

ps. previous chart is still valid, some of you guys asked, but basically as long as we do not close any weekly candle below 30k, it is still valid.

-The Dang Oracle