The scrolls of Cryptonia(@Crypto-Billions-fcfbb339eea4)'s insights

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The scrolls of Cryptonia

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How many of you are excited about today's lesson
(Consolidation, manipulation, distribution)

Why does the market always go down when buy?

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it's been confirmed the market will push down farther

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And still Holding my Trade

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lesson for today when you see the market moving your first question should be what is moving and move with it.leave the understanding why for latter$BTC

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I told you in my last post to start selling $BTC

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Monday Mission 💰 Hey Traders! 👋 We’re closing out 2024, and BTC is serving up something spicy on the charts. It looks like a potential setup for a sweet short trade—an opportunity to end the year strong or kick off the next one with momentum! 🚀📉💰 This is a classic bearish reversal pattern signaling a potential trend change from bullish to bearish. Here’s the breakdown: 1. **Left Shoulder**: The price spikes up, hits resistance, and pulls back to form a low (a "valley"). This movement sets the stage for the pattern. 2. **Head**: The price surges again, this time much higher than the left shoulder, but pulls back once more, typically to a similar support level as the first valley. 3. **Right Shoulder**: The price attempts one more rally but only reaches a lower high (below the "head"), showing fading bullish momentum. It then declines back toward support. 4. **Neckline**: This is the support level where the price repeatedly bounces before a breakdown. In this case, it’s the support zone at $93k–$92k. **Pattern Confirmation ✅** If the price breaks below and retests the neckline, it signals sellers are overpowering buyers. Once this happens, the stage is set for a potential downward move. **Potential Outcomes 📉📈**: 1. **Bearish Breakdown (Most Likely)**: - After the neckline breaks, the price often drops by the same height as the "head-to-neckline" distance. - On this chart, that implies a potential drop to the $86,000-$85,000 support zone—our target from earlier analysis. 2. **Fake-Out (Less Likely)**: 🤔 - Occasionally, the price dips below the neckline briefly but then recovers, trapping sellers who panic-sold. - If this happens, the price could rebound to $99,320 or higher. If you need any more assistance or have other questions, feel free to ask! 🌟📊

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