White Squiggle Possibilities. Halloween deathcross?
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We can see the current bear flag we're in has a drop target almost the exact same as the drop target for the upward slanted head and shoulders pattern we broke down from in September. While that is great bearish confluence, i personally still think we won't reach the full measured move and will instead send a wick down to maybe 6k or so while closing the daily candle bodies above the 7.2k horizontal maintaining it as support. The breakdown from the bearflag will likely be preempted by a bull trap that acts like it is going to prevent the 1 day death cross but then gets rejected near the top trendline of the falling wedge. The deathcross will then essentially help trigger the bearflag breakdown which I think will dip below the bottom trendline of the wedge but end up performing a 180 around 6k-6.2k trapping all kinds of shorts with it. I am calling this a Halloween deathcross because I believe the price action will simply be wearing a "deathcross" costume and will eventually go back into a golden cross sooner than later. I think we will hold the bull market and for that reason think the h&s breakdown may not reach it's full drop target...however the volume profile(not shown here) does seem to think the next big support zone below our current area is 5k with nothing in between so it's still ver possible.
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המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.