Arcs, Circles And Spirals
A possible scenario based on fibo ratiosDrawing fibo retracement levels from 3900$ and 9950$ levels (which are major levels and support) to the 19900$ (maximum) will results a strong support level in 14000$ and by drawing reverse fibo retracement levels the next target for BTC will be 26000$. With the use of fibo fan and fibo circles, these levels are confirmed and the estimated times can also be concluded.
MATICBTC - more short-term downsideWhilst playing around with FIB CIRCLES at different fib levels i took a look at MATIC:
MATIC is riding along a support circle and inside a descending triangle, moving inside of fib arc channels (bold colored). I guess we will see more downside to the levels of 120 - 100 sats, before a reversal kicks in, bringing MATIC back to the levels of 150 - 170 - 200 sats.
No advice from me, i just look at the charts.
MATIC/BTC 1D Short TermShort term we will drop to 140 sat area, see dark circle that indicates a support/resistance area. After that a rise is possible back to 170 sat area for the first target.
Also see the ultimate oscillator here. The line below the indicator indicates a last drop back to the line, before rising again.
No advice from me, i just look at the charts :)
BTC AnalysisCurrently we are either breaking out downward(weekly) or correcting back up into structure(via daily). The weekly candle close will determine is we have broken out of the current structure downward; however, BTC is currently correcting back into the structure as the weekly close approaches.
Weekly indicators:
IF weekly downward breakout holds until close.
Pink: Most plausible in my opinion.
Burnt Orange: Second most plausible according to indicators.
Daily Indicators:
IF weekly closes inside the structure.
White: Looking at the daily this seems to be a fairly likely outcome.
I apologize that my work is messy! Any feedback is appreciated and I hope this helps someone!!
Note: Arrows are not drawn to scale with respect to time, just a general guess of the path it will take price wise.
DOTUSDT (polkadot) 29/08/20 BREAKOUT Points of resistanceI feel pretty confident in the support levels drawn, probably more so if it breaks upwards - provided it breaks in the next couple hours. Another possibility is this and that probably looks better for if it drops. Won't really know until it happens and can see which one it decides to follow. LEND is also doing something similar right now, might chart it properly soon to get a better idea.
DOTUSDT (polkadot) 29/08/20 Clear Channel (short term)It's a graph like this which is most promising to trade with Futures! Clear support, and a 3% difference, so good to trade over a couple hours, but requires alot of attention because if it breaks up or down you don't want to be too slow to react (this trend started at midnight for me so I couldn't do anything fancy with it, but I have a long in place anyway :D )
DOTUSDT (polkadot) 28/08/20 Was short, now....not sure?Gah I was too impatient yesterday, should've backed myself! I noticed that all the alts retraced 50% from their highs when they had a major correction, so I had a short running on DOT and a couple others, but canned most of them too early. DOT and THETA were probably the best looking for a short yesterday.
Kind of wondering if it'll test the 50% retracement if the 0 mark was moved to the very first break out point. Actually if it did it would look kind of like a mirror image, which bitcoin was doing, and thats probably more of a cooked thought than a charting technique....buuuuut? Fuck it imma go short to 4.93 and put a stop loss around 5.86, more potential downside than up rn so worth it
DOTUSDT (polkadot) 27/08/20 Top to BottomsThere's 2 drawn here hence why it looks a bit busy.
Kinda hoping it'll retest that 5.8 low so I can get a cheaper re-entry, but its looking pretty strong up at the moment.
My previous charts of DOT all held up good as well!! Actually managed to profit yesterday from it, its playing the game much nicer than BTC...
DOTUSDT (polkadot) 26/08/20 Top to TopThe other graph is still doing its job, this is just to show what things look like when drawn from Top to Top, it has a few points that are touching but it doesn't look quite as predictive as the first DOT chart published, but is still good to keep in mind. Maybe if I update the other one I'll draw in these arcs manually so that they are shown but don't bog the rest of chart down with all the other lines and colours.