Get started

Gann Square

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.
INDEX:BTCUSDShort
by jackrabbitrage
Harmonic sequences: Cypher or Shark expected BTC tried the Gann Square's arc and stagnated there for a while - the chart is developing precisely as we predicted . After the black swan summons the dragon, a cypher (.786) or a shark (.886) pattern is expected next. Usually, the chart rebounds approximately between 0.5 and 0.618, even when the consecutive pattern formation isn't inhibited. However, we don't see any such break in the chart this time. BTC exhibits immaculate movement of harmonic patterns sequence, which implies how deep and persistent this decline could be. For the details of this analysis, please look at the related ideas below. I will write an educational subject to explain the price action pattern shortly.
INDEX:BTCUSDShort
by jackrabbitrage
1
Potential Black swan would summon a dragon BTC has been rejected at the apparent resistance of the 25200 zone. Gann Square, as applied, also implies that the buy-side liquidity above is hard to reach. Moreover, a harmonic black swan pattern (black) has formed, which would trigger another potential bearish harmonic pattern - a dragon (red). The bearish dragon's target would be 0.618 (20104) -0.786 (19001). However, given the Gann Square Arc's support, 0.618 or shallower is likely for the initial move.
INDEX:BTCUSDShort
by jackrabbitrage
2
Is BTC forming a Bearish Flat? In my previous ideas, I examined the possibility of the daily BTC chart forming a double zigzag, WXY, of which an X-wave may be about to complete. This hypothesis has yet to be invalidated. X-waves often become what Elliott called flat corrections- so let's check the characteristics of a flat correction. As the name implies, a flat corrective wave has ABC waves of similar heights. However, the mutual ratio of "similar" can be 123.6%, 138.2%, or 161.8%, which is hardly even. Still, the movement is more horizontal in the big picture compared to the trending markets. We might've already got B, extending in the 123.6-138.2% range of A, and C, which should be substantially at the "similar" height of A. C could extend to around 138.2%, which is approximately 27. 5k. But, in any case, this height would be near the intersection of the Gann Square Arcs in my chart. This range would, of course, also include the previous high of roughly 25200. Each time a high in the past is overcome, the range of time and price of an uptrend in Dow Theory widens, and we become more optimistic. However, the possibility of a double zigzag in Elliott wave theory still hasn't been completely ruled out. In this case, a typical shape of an X wave, a flat (expanded), could be formed at the potential junction of a downward wave at the higher level. Plus, we've already got a bearish anti-Gartley harmonic pattern, which could induce immediate reversal.
Short
by jackrabbitrage
2
Another possible Gann Square analysis with Fibo Channel This is an alternative to my previous idea . If 23k is a significant pivot, this reading will present a more convincing confluence. I overlaid a Fibonacci Channel parallel to Gann Fan 8 x1 and horizontals tangent to the arc. Difficult to adjust chart sizing in posting. Please scroll and expand the chart horizontally for the visibility of individual candles. Note: Gann Square is a built-in drawing tool of TradingView. See reference here .
Short
by jackrabbitrage
2
BTC Gann Squre and Arcs: Update Gann Square, as applied, has exhibited surprisingly accurate S & R zones. If this hypothetical mapping of potential pivot zones is still effective, BTCUSDT will challenge the next arc at around 25k, which is obviously a significant resistance zone. From my personal experience, tangents to arcs, among other trendlines, often serve as S & R, at least for a short term. So around 24.4k zone could also be what to watch. *Unless 25.2k is broken, this idea is still coherent with my previous idea in which Gann Square and Arcs is applied differently. Note: Gann Square is a built-in drawing tool of TradingView. Please have a look at the linked description for more information on how to use this tool and its significance.
Short
by jackrabbitrage
What if we are still in a fifth wave? There is the market observation that the BTC price has already bottomed out. True, the solid rebound for around 21500 was reminiscent of the start of a new uptrend. If we are already in at least a short-term one, as the bulls would believe, expecting a retracement back to 0.618 (35712), 0.786 (41214), or even 0.886 (44489) level first is convincing. Here, however, I would like to focus on another possibility. What if we are still in the middle of the descending fifth wave? The Pitchfork and Gann square may indicate there are supports and resistances that such a move would fit in. After all, unless 25200 zone is clearly exceeded, we cannot completely rule out a move toward the new low, in which case it's possibly below 14000 (9500-12500 is likely).
INDEX:BTCUSDShort
by jackrabbitrage
6
Daily bullish dragon challenging the arc This is the sequel of our previous ideas in which we saw the arc having confined BTC within it and a 4H-timeframe bullish dragon . BTC gained bullish momentum after getting out of the arcs' crosspoint, forming the LTF dragon pattern . 17200 resistance has already been touched, likely to be broken. 17600-17900 is another solid resistance zone. So we could eye profit shorting from there. But the daily chart indicates BTC already has formed another same bullish formation which could develop into as high as 20.18k as the 0.786 retracement level, or even higher. Given the enormous descending triangle to the left and the arc that exhibited the incredible confinement that dried up all the BTC volatility, 20k+ from now is certainly questionable. But we should note that this fickle speculative asset has always betrayed the expectations of the vast majority of the market- once again, the candle could burn out brightest before extinguishing itself.
by jackrabbitrage
2
Volatility expected after clearance of the arcs containing BTC BTC is trading within a very narrow range. There may be reasons for the exceptionally low volatility, one of which might be provided by arc analysis. As can be read from the chart, BTC has been contained in a crosspoint of the arcs. By scrolling the above chart, it can be seen how well the arcs have served S & R. Coming out of that area, BTC is expected to slowly recover its volatility, perhaps within a couple of days. If the arcs are strong resistance, 18K or higher prices are less likely, esp. in HTF. For the expected upside move, please look at my related idea below.
by jackrabbitrage
BTC in compression We are amid a double-bottom rebound in the short-term timeframe, which looks like a triple-bottom pattern that reminds us of the inverse head and shoulders. Nevertheless, the chart is moving slowly. Why is this? At least the arc answers. We are in the middle of a compression. Where does the compressed energy go? Let's look to the left here. Even conservatively, symmetrical and descending triangles are formed, and if we do a more non-standard pattern fitting, is this an inverse cup & handle? If so, it's odd that the decline stops where the top of the green box indicates. By the way, the chart has long respected the gray arc. It seems to be wobbling around, but if BTC turns around and resumes its dismal gray or monotonous decline, we should still see the bottom below. However, one never knows what will happen in the market. Let's keep an eye on the compression ahead. *Hate comments or meaningless criticism are not welcomed but will be immediately reported. For those who hate arcs but like more standard analysis, see my previous idea .
Short
by jackrabbitrage
Is USDJPY forming an Elliott impulse?: Back to 141.2 then 135 If the chart is forming an Elliot impulse wave, and the sharp drop last week was the third wave of it, we will see the fourth wave correction and arrive at the short-term target of 135.0. As detailed in the related idea linked below, I would see an elongated range formation, and it could take years for the yen to recover its original level. Pitchfork. the arks, and the fans are additional TA elements in this analysis, so if you hate them, especially Gann Square, ignore them. Or skip this idea. Offensive comments aren't welcome (and will be reported)
by jackrabbitrage
4