BitcoinLong
BTCUSD fractal updates and what it means going forward
BTCUSD was printing this incredible fractal pattern, and I'll link the previous explanation below. However, it exited this pattern on the news of Evergrande and Omicron (sounds like a new avenger movie). So I've been looking at this pattern for mathematically linked similarities to determine if this means the fractal has moved to different time frames or dissolved altogether.
I would draw your attention to the white line, at center. Fascinatingly, I noticed a pattern or link. When the fractal exited the structure, around 3 December 21, with the resultant liquidation cascade, we failed to continue the mathematical similarities to the previous trend. However, interestingly, the pattern chose this price structure to form a support line (white) that corresponds to the resistance line from the point in the previous structure where the fractal pattern SHOULD have continued, but did not. Even though price deviated from the pattern that would have continued the relation, the prices somehow still managed to correlate in some way. (The 2 red rectangles)
And in these 2 patterns, the range volatility is very close, falling somewhere around 10%. I find it interesting that the fractal pattern failed, but still correlated in someway at the same point.
So what does this mean? I don't think it substantively affects the previous expected result. Both patterns resulted in consolidation patterns ranging about 10% for a few weeks, then the previous trend continued. If I unlink the patterns mathematically, there isn't a huge deviation. So, this doesn't affect my previous prediction that this pattern results in a continued uptrend... until further information.
I would draw your attention to the white line, at center. Fascinatingly, I noticed a pattern or link. When the fractal exited the structure, around 3 December 21, with the resultant liquidation cascade, we failed to continue the mathematical similarities to the previous trend. However, interestingly, the pattern chose this price structure to form a support line (white) that corresponds to the resistance line from the point in the previous structure where the fractal pattern SHOULD have continued, but did not. Even though price deviated from the pattern that would have continued the relation, the prices somehow still managed to correlate in some way. (The 2 red rectangles)
And in these 2 patterns, the range volatility is very close, falling somewhere around 10%. I find it interesting that the fractal pattern failed, but still correlated in someway at the same point.
So what does this mean? I don't think it substantively affects the previous expected result. Both patterns resulted in consolidation patterns ranging about 10% for a few weeks, then the previous trend continued. If I unlink the patterns mathematically, there isn't a huge deviation. So, this doesn't affect my previous prediction that this pattern results in a continued uptrend... until further information.
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