BTC (Prj.2019.P03.E09).Too many scenario's?
Updated
This puzzle is very complicated and we can only can guess and share our ideas.
They all have a case to make, so which one do you think "is likely to happen?" Scenario A) or B) or C)?
Scenario A - Channel forming a large bull flag in a up trend.
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Fib pitchfork supports this model.
The chart below is created as a fib channel and one can see, many of the levels meet the expectations.
Caveat: If the price extends out of the channel as per the indicators, then this is invalid and hence Scenario B or C become possible.
Scenario B - A symmetrical triangle forming another large bull flag or possibly bear flag?
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The boundaries of this chart are as per the indicators. If the price leaves these boundaries, it makes this pattern invalid.
The critical test is here now at the 11800 mark. Same as the upper resistance levels as Scenario A (channel).
The key difference is if it bounces off the below blue line at the 0.382 fib level as per chart.
Scenario C - We have a descending triangle breakout (black lines) breaking out on the less likely side and the target should be close to 14k.
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Observation regarding RSI's on the WEEKLY CHART.
The area highlighted in red indicates the level above as the bullish level. If one pays attention, coming up to the peak in 2017, the RSI touched the red box on a regular basis.
With 2019, we have yet to touch this and one wonders is this going to be the time.
Also note with the pitchfork middle line, its acting as support for this bullish trend. If this is broken it might mean we will go to touch the weekly 20 EMA (as a health pullback) which can fill out those CME contract gaps.
Note the Daily RSI levels and it seems we are close to over extended as of now.
BEYOND TA of the CHARTS.
Price versus Volume:
If one looks at volume in the early stages of this big ranged pattern, volume has dropped significantly.
One wonders is this price being manipulated so people come in with lots of liquity for them to drop their load.
If you look at the two bottoms, one can see is where the smart money came in (1st 2 blue triangle indicators from the left, note the volume). The 3rd blue indicator, has much less volume. No smart money\institution money coming in.
Are they waiting patiently for the 8K range?
This is what I believe however it should stop us from trading and shorting for a some time, until we get confirmation as to what the true pattern or trend is.
They all have a case to make, so which one do you think "is likely to happen?" Scenario A) or B) or C)?
Scenario A - Channel forming a large bull flag in a up trend.
==========
Fib pitchfork supports this model.
The chart below is created as a fib channel and one can see, many of the levels meet the expectations.
Caveat: If the price extends out of the channel as per the indicators, then this is invalid and hence Scenario B or C become possible.
Scenario B - A symmetrical triangle forming another large bull flag or possibly bear flag?
==========
The boundaries of this chart are as per the indicators. If the price leaves these boundaries, it makes this pattern invalid.
The critical test is here now at the 11800 mark. Same as the upper resistance levels as Scenario A (channel).
The key difference is if it bounces off the below blue line at the 0.382 fib level as per chart.
Scenario C - We have a descending triangle breakout (black lines) breaking out on the less likely side and the target should be close to 14k.
==========
Observation regarding RSI's on the WEEKLY CHART.
The area highlighted in red indicates the level above as the bullish level. If one pays attention, coming up to the peak in 2017, the RSI touched the red box on a regular basis.
With 2019, we have yet to touch this and one wonders is this going to be the time.
Also note with the pitchfork middle line, its acting as support for this bullish trend. If this is broken it might mean we will go to touch the weekly 20 EMA (as a health pullback) which can fill out those CME contract gaps.
Note the Daily RSI levels and it seems we are close to over extended as of now.
BEYOND TA of the CHARTS.
Price versus Volume:
If one looks at volume in the early stages of this big ranged pattern, volume has dropped significantly.
One wonders is this price being manipulated so people come in with lots of liquity for them to drop their load.
If you look at the two bottoms, one can see is where the smart money came in (1st 2 blue triangle indicators from the left, note the volume). The 3rd blue indicator, has much less volume. No smart money\institution money coming in.
Are they waiting patiently for the 8K range?
This is what I believe however it should stop us from trading and shorting for a some time, until we get confirmation as to what the true pattern or trend is.
Note
This is what I believe however it should not stop us from trading and shorting for some time, until we get a clearer picture or confirmation as to what the true pattern or trend is.Note
Bearish divergence on the 30 min chart. Price is not matching demand.Note
Just a reminder how risky this stage is. We had a shooting star on the weekly and these two wicks show a big rejection. Its possible that the target is 13K however this bull rally could be short lived. As for ALT coins, don't be stupid and move away from BTC. BTC has been dominant for a while and its the big market cap, the rest is not worth the risk.Note
We need a bit of a drop for momentum before we break this resistance.No divergences on the 2 or 4 HRLY.
Note
My BTC dominance chart. The pattern I forcasted has even surprised me that I got it so accurate. LOL 
Note
Note
other possibility but less likely at this point. Note... the longer we go sideways, the more likely we will drop further. I have 2 days or less, if the price doesn't break this area, we will have a major drop when it hits this white ring.Note
#BTC as each 30 min. block times move forward, the greater the bearish divergence grows. If BTC does not move up in the next day and 1/2, I'm saying there will be a big dump.Note
Sometimes it helps to look at the puzzle from a different perspective. I'm not knowlegeable or experienced with the application of the Heiken Ashi, candlestick. However It is useful at certain times, especially to capture trend.I have the 4 HRLY candlestick here and it seems to me we have reached a top and about to start either a small or large trend downwards that's worth watching.
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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