Levels to watch on BTC 1D
As of the end of June, practically the last day of the month on the dot, BTC daily movement ended a price structure that began right around March 15. Here in the chart you can see the upward arrow in early June (compared to all the down arrows preceding it) - this is the initial (perhaps only) FCT of the new struct. At present I can't tell if the 8895 low is the structural endpoint or not - it could be. Suffice it to say that if price drops below this low there will likely be significant downward action to follow. Same with the 10428 high - if price breaks above there should be significant upward action to follow - a new upward structure most likely.
If I had to guess what form the present structure would take, I'd say we're likely seeing pull 2 play out (that's the 2nd fractured counter trend) and will see the lower price level breached. (BTW, the definition of a "structure" is a movement that contains a *Fractured* Counter Trend or "FCT" as indicated by the "M4EL Ultra" overlay (which marks points of 'separation' or HIPS and LOPS as they are sometimes called). If this is what's happening we will see some further fluctuating movement before the 8895 low is breached.
You can see that structures at this time frame last for months, so these movements are of considerable size as are potential profits. Notice the "Dyad Lines" drawn on the previous struct as well as the 'Single Point Solo" line where the (all-in-one) pivot is indicated via a comment. The later pinpointed the struct terminal w/ incredible accuracy ("Solo" points have a specific definition as the last marked point prior to an FCT). These lines are not based on random points, but on M4 PCS Solo/P1T points. Remember, fluctuations also validate a line as 'active' - not just hits from above and below...
Till next time...
If I had to guess what form the present structure would take, I'd say we're likely seeing pull 2 play out (that's the 2nd fractured counter trend) and will see the lower price level breached. (BTW, the definition of a "structure" is a movement that contains a *Fractured* Counter Trend or "FCT" as indicated by the "M4EL Ultra" overlay (which marks points of 'separation' or HIPS and LOPS as they are sometimes called). If this is what's happening we will see some further fluctuating movement before the 8895 low is breached.
You can see that structures at this time frame last for months, so these movements are of considerable size as are potential profits. Notice the "Dyad Lines" drawn on the previous struct as well as the 'Single Point Solo" line where the (all-in-one) pivot is indicated via a comment. The later pinpointed the struct terminal w/ incredible accuracy ("Solo" points have a specific definition as the last marked point prior to an FCT). These lines are not based on random points, but on M4 PCS Solo/P1T points. Remember, fluctuations also validate a line as 'active' - not just hits from above and below...
Till next time...
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