SChalice

SChalice

FOMC Bottom? Looking for hitting the retrace fibs and resistances.

SChalice Updated 

CRAY CRAY fish looking to be going downwards. I think this proves that trends are your friends.

SChalice

I tried to show a main channel here that has been broken.

SChalice Updated 

Sheesh, when is the carnage going to stop? I guess we are headed for catastrophe

SChalice

Pretty sure breaking that A_D mean something. We are in a bear trend but questioning if it is a simple correction.

SChalice

Any break back above that A-D line should represent a new trend

SChalice

long term down trend for many months. Now with a elliot confirmation of the possible start of another down trend

SChalice

The simplest of trendlines and a classic example of breaking support.

SChalice

Quite simple. Make your own trendline from the lows of this year and see if the recent action violated it?

SChalice

H&S into Descending Triangle suggests the black swan theory back to 20k

SChalice

These trend lines fan out from cool blue to hot magenta. Let's see how they pan out next week.

SChalice

A buncha trend lines running cool to hot. The American equity markets are spooked and will drag crypto equities along with it. Let's see how low or not the markets react early next week.

SChalice

This weekend's news should be fun. American equity indexes have broken support and showing weakness. BTC tends to follow these trends.

SChalice

I have included trendlines: long - blue short - yellow medium - red These are not Elliot Waves. We just need to change blue to green and then they are Irie waves.

SChalice

Hey let's see where this goes! The old trendline has been broken for a while... This seems like an aggressive new trendline!

SChalice

Any break above 48k, will violate this channel. Any break below 46k will violate this channel. I am a bit bearish short term and believe this channel will hold for a few days.

SChalice

The Yellow lines represent a channel for the correction of the current BTC reversal. If BTC breaks 48k on the upside, then the channel is broken. If BTC breaks 46k on the downside then it breaks the channel and the trendline.

SChalice

BTC has broken its steep reversal trendline (BLUE), which was untenable. I believe BTC is now in a correction phase of that reversal (YELLOW). BTC needs to hold 46.3k for the short term reversal to hold up technically. Any third wave should take BTC well above 54k. This could occur at any time if it holds 46.3. Otherwise it could take weeks longer.