Bitcoin Short term Dual Bull and Bear Fractals
Updated
Quick chart with dual scenarios for the short-term using fractals. Notable decision dates are December 30th and January 6!
Blue fractal = Adam & Eve from the 3K bottom from the previous bear market
If bull, then Bitcoin will remain in the bull parallel channel and will follow the blue bull fractal chopping up into December 30th and well into January 6 before exploding up to 63-64K (ATH) and resuming the Megabull till May 2022 into the 150Ks.
Buy/long: $49-48.7K
Stoploss: 48.5K or lower
Purple fractal = Double bottom attempt at 43K from October 2019
If bear, then Bitcoin will remain in the bear parallel channel and will follow the purple bear fractal chopping down into December 30th and well into January 6-8 where it would double bottom at 44-42K before exploding towards 57.2K-61.2K and attempting to back test the 1W midband around 53.2Ks as support.
Buy/long: 44-42K
Stoploss: 51K
Remark: Fractals are not foolproof, which means they will end up failing. That said, we can combine fractals along classical technical analysis patterns and other indicators to attempt to forecast/predict the market's action
Happy trading!
Carl M.
Blue fractal = Adam & Eve from the 3K bottom from the previous bear market
If bull, then Bitcoin will remain in the bull parallel channel and will follow the blue bull fractal chopping up into December 30th and well into January 6 before exploding up to 63-64K (ATH) and resuming the Megabull till May 2022 into the 150Ks.
Buy/long: $49-48.7K
Stoploss: 48.5K or lower
Purple fractal = Double bottom attempt at 43K from October 2019
If bear, then Bitcoin will remain in the bear parallel channel and will follow the purple bear fractal chopping down into December 30th and well into January 6-8 where it would double bottom at 44-42K before exploding towards 57.2K-61.2K and attempting to back test the 1W midband around 53.2Ks as support.
Buy/long: 44-42K
Stoploss: 51K
Remark: Fractals are not foolproof, which means they will end up failing. That said, we can combine fractals along classical technical analysis patterns and other indicators to attempt to forecast/predict the market's action
Happy trading!
Carl M.
Trade active
Bear it is folks. The 1W midband rejected us and were still in bear territory as we sell off in the 47Ks. Likely the 200D EMA won't hold us this time.
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