Just looking at where I would close a short if i went short Monero here. Why monero? Because you can short it on kraken, in 'real' Dollars. No tether.
So!
Log scale! Trendlines! Fib's on the short timeframe!
236
199
129
Simple.
There are some squares to show you congruent shapes occuring.
We see the first wedge seemingly continuing the parabolic curve growth pattern, and it's followed by a shape similar to what we see now.
It will do a quick bounce off the parabolic advance line, then retest it and fail, fall hard to the next fib, bounce, fall harder down to the next trendline and rally from there.
With a neat little scribble of what I'm wagering it will look like when it happens, just like it did before.
Or I'm wrong in which case 1) the first parabolic trendline is simply going to hold.
or 2) the second parabolic advance line won't hold either, and we're looking at 3k bitcoin.
Oh, sorry, did I spoil the ending?
Doing monero because i have too many preconceived notions about what bitcoin can and cannot do at this point in time. Besides, monero is more volatile.
Good luck everyone. Try to keep some fiat handy.
So!
Log scale! Trendlines! Fib's on the short timeframe!
236
199
129
Simple.
There are some squares to show you congruent shapes occuring.
We see the first wedge seemingly continuing the parabolic curve growth pattern, and it's followed by a shape similar to what we see now.
It will do a quick bounce off the parabolic advance line, then retest it and fail, fall hard to the next fib, bounce, fall harder down to the next trendline and rally from there.
With a neat little scribble of what I'm wagering it will look like when it happens, just like it did before.
Or I'm wrong in which case 1) the first parabolic trendline is simply going to hold.
or 2) the second parabolic advance line won't hold either, and we're looking at 3k bitcoin.
Oh, sorry, did I spoil the ending?
Doing monero because i have too many preconceived notions about what bitcoin can and cannot do at this point in time. Besides, monero is more volatile.
Good luck everyone. Try to keep some fiat handy.
