CatFoodScience

CatFoodScience Updated 

It looks like another head and shoulders pattern is forming on the daily chart . There is a broadening wedge which could technically break either way, but my gut says this will H&S and break downward. I marked the mid point of the wedge , sized the left shoulder, copy/pasted the size for the right shoulder, and it hits mid-wedge perfectly. I've seen this setup in...

CatFoodScience

After BTC broke 43K, I no longer felt the drop was a Elliott correct wave, instead i started considering this could be a bigger retracement. Viewing info on Wyckoff distribution made a lot of sense and I started believing a full retracement may be in the cards. I looked back at previous run ups/downs this is almost exact what's happened before. The retracement...

CatFoodScience Updated 

Still following the downtrend, i had to expand it out to a channel. Today it dropped but rose and is hitting into the channel wall and ready to drop again. Previous drop was 14% I'm guessing this could be similar as this would line up nicely with my fib. At this point i don't see a change in trend and thing we will continue to see drops and pullbacks until a...

CatFoodScience Updated 

BTC is bearish and i expect to see small swings up, and drops. These are not good buying opportunities, the there is more risk than reward. BTC not only needs to break the downward trend line, but it must do so significantly. There are 2 walls where buying is occurring around at 40k and at 43k, outside these locations there isn't buying pressure (momentum) at the...

CatFoodScience

There isn't much to say beyond what the chart suggests. BTC completed wave 1 and is in wave 2 which should reach around 43k, wave 3 should reach 100k. Wave 4 should pull back to about 80k, and finally wave 5 should complete the impulse wave around 120k by the end of the year. Folks seem to become upset when discussing BTC pulling back to 43k as they think BTC is...