Gann Square
Bitcoin Will Drop to 19kMy thesis is that somewhere within the next 6 months (until around April 2024). Bitcoin will revisit 19-21k area.
I don't know what the driver will be, but something that will make people panic, this time I don't think the bottoming period will be as long as dump of 2022.
When Bitcoin reaches 19k, when you hear most people talking about Bitcoin is gonna break 15.5k or breach 10k, remember that most likely it will not, and the price will go up leaving those that didn't buy waiting for lower prices.
Is BTC forming a bearish pennant?
I'm still pursuing the overall bearish scenario , but I also think it could see a short-term bullish case at the same time.
If a red pennant forms, we would see a rebound to 26.7k-27.2k, followed by a steep decline as wave 5 of the impulse continues. Invalidation on breaking the lower red edge again.
Linking Time with Price LevelThe relationship between time and price level can be observed through the analysis of price charts and technical indicators. Technical analysis involves the use of charts and indicators to identify patterns and trends in price movements. One important aspect of technical analysis is the identification of support and resistance levels, which can help traders make decisions about when to buy or sell a particular asset.
Technical indicators can also be used to analyze the relationship between price and time. For example, moving averages can be used to identify trends in price movements over a specific period of time. The slope of the moving average can indicate the strength of the trend, while the distance between the price and the moving average can indicate the level of deviation from the trend.
In addition to technical indicators, traders also use fundamental analysis to assess the relationship between time and price level. Fundamental analysis involves the study of economic and financial data to identify factors that can influence the price of an asset. For example, changes in interest rates, inflation, and political events can all have an impact on the price of an asset over time.
To summarize, the relationship between time and price level is complex and multifaceted. Traders use a variety of tools and techniques to analyze this relationship, including technical indicators, charts, and fundamental analysis. By understanding the relationship between time and price level, traders can make more informed decisions about when to buy or sell a particular asset.
Regarding the development of price ratios, the expected price level and the expected price movement for the wave can be determined by analyzing technical indicators such as Relative Strength Index (RSI) and Price Oscillator. The RSI can be used to identify the overbought and oversold conditions of an asset, while the Price Oscillator can indicate the strength of the trend. By analyzing these indicators, traders can develop price ratios and make informed decisions about when to enter or exit a trade.
Finally, it's important to note that the relationship between price and time is not always straightforward. While technical analysis and fundamental analysis can provide valuable insights, they are not foolproof. Traders need to be aware of the limitations of these tools and use them in conjunction with other forms of analysis and risk management strategies.
$RCL Double Top & Gann PriceNYSE:RCL Double Top & Gann Price $112 Royal Caribbean Cruises (RCL) almost tested a double top today at This is a technical pattern that occurs when the price of a stock forms two peaks that are the same or very close in price. The second peak is usually lower than the first peak, and it indicates that the momentum of the uptrend is starting to fade.
Gann Squre underlines 24.25k and 19k
This is an update for one of my previous ideas .
I've posted several Gann-Square-based analyses for the BTC market, but I feel this one could be the best of those.
If BTC marks a new low at least on the daily timeframe, which I feel is likely, my Gann Square should underline 24.25k and 19k as primary, and Gann Fan does 23.4k and 22.1 as secondary.
But, most importantly, Gann Square and Arcs spot support and resistance on the time axis.
If it is correctly working, and it looks like it is, we will soon reach the vacuum zone on the time axis, where we must witness a significant price action.
That would be roughly around June 12, obviously imminent.
But this may not be particularly surprising if we simply look at the candlesticks.