Bearish continuation: bearish pennant

١ يونيو ٢٠٢٤

Chart description:

- Expect another leg down, miminum 0.618fib retracement.
- Hidden bearish divergence MACD(d)
- Nice short opportunity, 3.61 RR at 1 fib.
- Will update chart as things unfold.

١٤ يونيو ٢٠٢٤

ملاحظة

So far so good.

١٨ يونيو ٢٠٢٤

ملاحظة

Hard to decipher what ew structure we’re looking at on the lower timeframe, so I’m keeping it simple. Short looks good, expect price to hit at least the 0.618fib at 0.30xx. Patiently, waiting for some reversal signals.

٣٠ يونيو ٢٠٢٤

ملاحظة

Expect price to hit target at 0.618 lvl before moving up. MACD is currently forming a potential hook (more downward momemtum), but RSI(d) is also forming some bull div.

٣٠ يونيو ٢٠٢٤

ملاحظة

Have this Bitcoin scenario in mind, since we printed a double top. Let's see.

٤ يوليو ٢٠٢٤

ملاحظة

Target reached. No sign of any resistence, therefore expect prices to go lower. Intermediate targets laid out in chart.

١٠ يوليو ٢٠٢٤

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