Gann
Watching the 2398 area as support on the monthly.I placed a trend line connecting the previous two monthly candles highs and another one on the lows. Then let them travel in time. Watching 2398 as support.
GANN master of price and timea reflection of Gann's predictions of 1929. Yes, my brain hurts to think how he could have pre-known accurate turns in time too
Watching the 2561 area on the yearly for support.I first placed a trend line on the swing highs of the previous two years candles. Then another trend line on the previous two years swing lows and let them both travel in time. Then I placed a vertical line on this year's candle and where they intersect.
Keeping an eye on the 2406 area.First I placed a trend line connecting the swing low with another lower swing low. Then placed a vertical line on the swing high in between the two. And where it intersects at, right around the 2406 area. Seeing if it will act as support.
Head shoulders knees and toes :-) I'm waiting $BTC at 6000 - #BTEverything has described on the chart
enjoy.
TREND ANALYSIS ON D1The thick purple line is a 2/3rds (two-thirds) Gann angle for a 874 point 1 x 1 square from the major low 1046.
This angle has acted as a major resistance barrier for several years.
It is the first time price has broken above this angle and currently trading back and forth in the zone.
A strong bounce up might occur if price touches the angle in the 1625 - 1632 zone.
The bounce might be a correction to the current downtrend or it might advance higher if 1703 is broken considerably.
We also have 1708 - 1712 as the top end of a golden section if drawn graphically. That means price have to break 1712 to validate any further advance for now.
Levels to watch.
1718 is the 3.0 expansion level of the 186 x 188 square. It is also the first 1/8th cycle of 27 points above 1691.
1745 is the next 1/4th level of 54 points advance from 1691. It is also the first 874 range squaring.
874 x 2 = 1748
54 points = 2 sub-cycles. (cycle = 27 points)
Currently, 1703 - 54 = 1649
1649 is holding now as support because two cycles down has completed.
We also have 1727 1755, 1766, 1786-1793, and 1829 to watch up.
On the low side.
We have 1649, 1632, 1622(3rd cycle down), 1610, 1595, 1587 and 1541 to watch.
Please check next post as we discuss the important levels on the low side which looks more prevalent for now.
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