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RE: Bitcoin (BTC) Evening Update: A Healthy Correction in Progress; Bitcoin is NOT collapsing! It's correcting!
To me the best double tops are on daily or weekly scales. The 15 minute scale is too short of a degree in time.
I agree; 1D. But it also has one on the 1 day. However, I also acknowledge we are still in a bullish channel overall, so a double top isn't confirmed yet (and many analysts don't "believe" in double tops...so I will take that on-board too)
What you call the "jaws of wealth" is an "ascending broadening wedge", which is bearish overall. Even in a bearish trend you can make money going long (just enter at the bottom).
I'm not sure if any of your comments were directed at me, but I'm not emotional at all. I don't care if it goes up or down; I'll make money either way -- Unlike you, I'm happy to short (which is a personal choice obviously) -- I'm also happy to sit on the sidelines until it plays out. There's always more opportunities to make money in the future.
But you sounded quite emotional in the video. We are just discussing ideas here.... I'll listen to all analysts' ideas --- including your's --- just in case I missed anything. Always be humble... as you said.... 5 years you thought you were good, 15 years you are aware you are still learning -- we are all learning. You seem extremely confident in your current analysis, but right now I'll remain flexible until it becomes a little clearer.
Thanks again for the video and the comments.
Comments directed at other analysts calling for double tops.
Fair enough. I didn't get it from any notable analyst. MarkP mentioned it, but also said it's not part of a triple top unless he see's a solid reversal. I consider him to be one of the most level headed analysts on TV.
I still feel the broadening wedge ("jaws of wealth"), posted in my above post and updated below, is still in play... and still a sign there will be a bigger correction downwards.
The weekly is even clearer. The TD on an 8 (so one more week to play out), it's breaking BB, and is a mile away from the ichi cloud...