1.
The ATH@ $4979.90 was weak, didnt touch or break the channel.
So the grey uptrend channel is giving in and we got the curved orange downtrend channel
2.
The second teal colored wave would proportionally even still be less of a retrace than in
June: $2980 $2480 (-17%) $2120 (-12%)
September: $4979.90 $4001 (-20%) $3___ (-?%)
3. despite the lowest trendline for the uptrend channel was broken credibly, the price was still thrown back up into the yellow flag. This may be called an "exit pump".
based on ruminating the chinese news. In more or less negative ways.
4. Time for pump attempts is running short increasingly. The way back to mania inducing high prices near the ATH is far - and there is a lot of resistance by now. $4300 is just one. Weekend traders will be done soon.
Daily view:
I actually drew the daily view more than 4 hours ago, before the peak of the red arrow,
just only managed to finish the post now.
Yearly view:
The ATH@ $4979.90 was weak, didnt touch or break the channel.
So the grey uptrend channel is giving in and we got the curved orange downtrend channel
2.
The second teal colored wave would proportionally even still be less of a retrace than in
June: $2980 $2480 (-17%) $2120 (-12%)
September: $4979.90 $4001 (-20%) $3___ (-?%)
3. despite the lowest trendline for the uptrend channel was broken credibly, the price was still thrown back up into the yellow flag. This may be called an "exit pump".
based on ruminating the chinese news. In more or less negative ways.
4. Time for pump attempts is running short increasingly. The way back to mania inducing high prices near the ATH is far - and there is a lot of resistance by now. $4300 is just one. Weekend traders will be done soon.
Daily view:
I actually drew the daily view more than 4 hours ago, before the peak of the red arrow,
just only managed to finish the post now.
Yearly view:
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