BTC / USD Potential fractal formation. Important price area

Updated

The chart shows a fractal that can potentially form on this trading pair. I must say right away that fractals in trading are a rather conventional method of analysis, but sometimes they are applicable. This is in addition to the usual technical analysis, nothing more. Helps to logically anticipate potential price movement formation before it occurs long before major market participants. But you need to understand that without other methods of analysis, it is not effective at work.

You need to understand that after the price of 56000 and then 57318 was shown, this local correction at the moment was most likely unavoidable. The main thing is that everything ends with this squeeze, or at least the downward movement of the price only in these numerical values, otherwise the domino effect may occur and after the reversal of the local trend we will see a real reversal of the secondary.

Past trading idea for this trading pair.
BTC/USD Top of the trend Triangle Soon the denouement Psychology

BTC/USD Top of the trend Triangle Soon the denouement Psychology

+17.13% 56000$

Note

The Dragon pattern was formed at 4 hours. Price near the breakout of the local downtrend. Pay attention to the level 48158.30 and 50658.50

Note

at the moment the level 50658 has not been overcome (red level on the chart). Shown was a yellow arrow. A local uptrend was broken from it (green), similarly shown with a white arrow. Formation confirmation is important. The downtrend local trend line has slightly changed the angle due to the previous local price movements. Level zones and their meaning remain the same. Going long only after overcoming the downtrend and so as not to fall for a false breakout of overcoming the same mirror level (resistance) zone 50658. I would also like to say that for most of the numerical values of the levels are just "random numbers", but there is never anything accidental on highly liquid instruments. There is an attempt to implement this or that scenario shown in numbers. And unlike "hamsters" who adjust to the price, they have no influence on it, but they know "exactly" how it will be, other market players "do not know" exactly how it will come out, there are a lot of components of the process (not cryptocurrencies), but there is attempts to implement one or another planned scenario that may or may not come true.

A similar situation as it was now before overcoming 20 thousand. Similarly, there were several takeaways before continuing the trend. There is a chance that this can and will happen again now. But the probability is no more when the above conditions are implemented.

Note

+ 11.96% from the breakout of the local downtrend (red). The price has entered an important area of local resistance. timeframe 4h

Note

Profit on local ad 11 days ago
+ 26.1% from the lowest point (price zone of the price stop level)
+ 21.72% since the breakout of the specified downtrend local trend line.
We came to an important zone of resistance. Cup is formed 34.72%

Note

BTC / USD Timeframe 4 hours. A cup. Working on the instrument.

Note

60,000. The price is trapped in a narrow ascending channel at the moment in its lower part. Some numerical values are very important to chart for future "non-crypto events". Therefore, there is a possibility of a strong impulse. At such moments, when there is uncertainty in the market and certain people "decide how to fuck everyone" and direct the price to either side against the confidence of the majority:

1) comply with risk management
2) "protect your profits" (especially altos that have grown a lot)
3) do not work with inadequate leverage in trading margin, or refuse it altogether.
3) if you are not sure about the price movement, observe from the side.
4) is calm about everything and not nervous. The market does not like alarmists, and it is at their expense that one earns

Note

Timeframe 1 day. The development of the trading situation now.

Note

+18.33%

Note

Bitcoin. Triangle. Important areas. 58440. Work on a coin

SpartaBTC

✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2

Also on:

Related publications

BTC/USD Top of the trend Triangle Soon the denouement Psychology

by SpartaBTC

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.