ephiat scenario 2option 2: hold a 4 hour break level and gain the second bottom red dashed line to set up future support to take prices higher. create an uptrend on the daily if this level is gained
C0tt0nc4ndyta
ephiat scenario 1scenario 1. Gaining of both of the only daily inv hold levels, using up the last 1 minute hold level at the bottom, and hardclosing of the only forms of support which will turn them into resistance in the future. Wait a few weeks or so for bleeding to end, a range to be formed on bottom that has an origin that will be resistance acting as support then climb up to a higher time frame level.
HDRN bullish and Bearish macro levelsKEY: white=monthly, purple=weekly, red=daily, yellow=4 hour.
For the macro: want to see a monthly candle close in the green above that bottom dashed level that’s white and .0000032142 to gain them as support in the future
One layer lower to the weekly: mirroring has commence between weekly break to weekly break. Left most arrow got hit to dollar by the 3rd arrow, which moves up and hits the second arrow to the dollar on the fourth arrow. Time frame levels respect their same time frame levels if they appear as a test on that time frame to the dollar or within fractions of a percent. There are some other circumstances too but not relevant here.
The weekly chart is forming architecture over a monthly level that is white on this chart, that could cause a break of that weekly level since the time frame higher than it it powering/holding the move upwards
On the daily so micro macro lol: the bottom red dotted line is a breakout point as well since two different color candles (a peak on lower time frames, yes a peak like a mountain) wicked through it but didn’t close accumulation above it. To continue move up price would want to close accumulation over this level today, or if it does close distribution it still needs to be above that dotted line. If not then that cues a dump down to the lower weekly levels probably.
SUMMARY:
Ultimately on the macro is looks like the move is going up since it held that bottom most white dashed line which is a hold level. Hold levels are either the top wick or the body of a candle before a color change. This is because on lower time frames it’s the top of a peak the bottom of a valley or one of those breakout points that can still be respected as support or resistance in the future/opposite of what they were initially required to “breakout” from
Monthly trend as well and lower time frame weekly trend cycling or increasing in angle on the diagonal axis the further you get on the horizontal axis
DITCH THE INDICATORS LEARN C0tt0nc4ndyta science and get moves to the dollar.
EDU-Series 101 | Candles & RangesThe Technical Analysis portrayed in this EDU-Series is referred to as the science of trading. Those who practice this rigorous style of price action theory call it C0tt0nc4ndyTA. (yes, those are zero's instead of O's. which makes it way cooler & less nerdy than saying "The Science of Trading")
The sweetest style of price action is fun to learn and the verbiage used to represent the data points are always consistent. This builds a solid foundation of knowledge to avoid guessing at the irrelevant data provided by lagging indicators. This approach is as old as the charts themselves & gives the practitioner clarity with confidence they can relay on, consistently. The expectations developed over the course of study build upon each other in layers of depth and added complexity.
The curious investor need only study the basics while the day trader scalping for a daily income will find the most help further down the rabbit hole.
IT IS WITH GREAT PLEASURE TO INTRODUCE THE SCIENCE OF TRADING IN THIS SERIES.
When first learning about charts, the anatomy of a candle always shows up. While that is great info. I believe is sets the trader up to fail. Ranges control price and to train your eyes to identify the ranges is 100% more effective than learning about the anatomy of individual candles.
There are Accumulation Ranges & Distribution ranges. When I first get on to a chart to mark levels. I like to identify the range that price is in on the higher timeframes. mark the top / start of the distribution range and the bottom / end or the range.
BITCOIN IN THE MIDTERMBITCOIN AND ITS PLAUSIBLE FUTURE IN THE MID TERM;
what has happened so far?
- Bitcoin has been through a heck of a downtrend on the daily time frame since November 2021 after it's ATH.
- We successfully found support at the 33k to 35k range support but specifically at the 33100 mark on January 25,2022. This was a daily hold level with in that range. 35k was a weekly hold level.
- using this support we were able to stop the outrageous distribution for a bit by breaking the 3 months downtrend.
- now we have an uptrend forming trying to attack the valley at 51k for the mid term.
what to expect?
- if BTC holds against the 41900 critical support range and we break the immediate downtrend, we could potentially see a rally to the 45k and 48k ranges with a maximum target of 50k ranges.
- if the critical support at 41900 is broken then we could see a dump in price to the 36k to 38k ranges.
NFA. I am quite bullish on BTC for the midterm.
credit belongs to my mentor and teacher @c0tt0nc4ndyTA. i learnt from him.
terms mentioned in this analysis are not of my own making.
thank you
