BTC - volatility and pitchforks
Analysis of two different strategies put together (volatility and pickfork+fibo retracement) in order to look for confluent signals
LOD on 4Hr chart is about 200 and seems giving some indication, that last wick just touched the lower band of 50 period and even if it bounced back overall we are still into the LOD, we could consider this a lateral mean reversion and so the price should move laterally until the 200 mean comes up
No useful info on CCI anyway short period on wavepm si compressed and could soon expand: this could potentially lead to usual weekend movement due to the shorter period compression, because the LOD 200 will still take some time (days) to fully compress.
In conclusion price could go laterally until the mean comes up, but during that time we could have some movement due the shorter period expansion...price should theoretically remain between the upper band and the mean of the LOD.
By the way if price follow the retracement pitchfork we could broke the lateral movement sooner.
I've added fibo extensions ( 1.618, 2, 2,618 ) on main trend pitchfork since I noticed that they could give potential useful support lines in correlation with the crossing of the retracement pickfork lines.
LOD on 4Hr chart is about 200 and seems giving some indication, that last wick just touched the lower band of 50 period and even if it bounced back overall we are still into the LOD, we could consider this a lateral mean reversion and so the price should move laterally until the 200 mean comes up
No useful info on CCI anyway short period on wavepm si compressed and could soon expand: this could potentially lead to usual weekend movement due to the shorter period compression, because the LOD 200 will still take some time (days) to fully compress.
In conclusion price could go laterally until the mean comes up, but during that time we could have some movement due the shorter period expansion...price should theoretically remain between the upper band and the mean of the LOD.
By the way if price follow the retracement pitchfork we could broke the lateral movement sooner.
I've added fibo extensions ( 1.618, 2, 2,618 ) on main trend pitchfork since I noticed that they could give potential useful support lines in correlation with the crossing of the retracement pickfork lines.
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