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Gann Square

Bullish or Bearish: Watch Clitical Support Level of 18700 With the crypto exchange's asset liquidation plan flowing as FUD, the BTC chart, which looked strong, looks fragile. Technically, a Bullish Dragon (green)' s TP (21700) has almost been (but has yet) reached, and BTC is on the path to test the support of another giant Dragon (blue). Dragon patterns (often simply wedges), large or small, bullish or bearish, their theoretically cleanest target is a Fibonacci retracement level of 0.786. So let's look at the red, bearish dragon's FR 0.786, where several supports converge. It's around 18700. If BTC is on the bullish path, but a further correction is needed, we would likely see a rebound at around 18700 (green trendlines), and a bullish Elliot progressive wave (green 12345) will follow. On the other hand, if the price breaks down through the critical support level of around 18700, we would witness a massive decline reopening the downtrend (red 12345). If the market turns out to be bearish, my immediate previous idea will be invalidated. This analysis should be neutral, but I see corrections in a bullish path. So this is tagged "short." Note: Gann Square and arcs are for reference. If you dislike it, you can ignore it. Criticism for Gann Square isn't welcome in the comment area.
BYBIT:BTCUSD.PShort
by jackrabbitrage
2
BTC Possible Middle Term Scenario (Rev) Some errors and issues in precision are addressed. No change in fundamental concepts. The bear market shouldn't have been over, but we are likely in a relief rally if the price rises above the threshold of around (21600-) 21800. Beware of still possible correction before the bullish move after the breakout. Long until December, and maybe short (in January) at the 33k-34k zone. If the market is more bearish, the downtrend could resume at 28k-29k. I changed my view because the bullish dragon in the related idea now seems to have been in action. The chart and annotation would be self-explanatory: the keys are harmonic patterns and Fibonacci. To those who hate Gann Square and arcs: Ignore them, or ignore this idea. It's simple. Think twice before you post anything in the comment area.
Long
by jackrabbitrage
BTC Possible Middle Term Scenario The bear market shouldn't have been over, but we are likely in a relief rally if the price rises above the threshold of around (21600-) 21800. Beware of still possible correction before the actual bullish move. Long until December, and maybe short (in January) at 33.5k-34k. If the market is more bearish, the downtrend could resume at 28k-29k. I changed my view because the bullish dragon in the related idea now seems to have been active. The chart and annotation would be self-explanatory: the keys are harmonic patterns and Fibonacci. To those who hate Gann Square and arcs: Ignore them, or ignore this idea. It's simple. Think twice before you post anything in the comment area.
Long
by jackrabbitrage
BTC: Watch 18460 if it breaks below the bottom of pennant As we predicted, the bearish dragon pattern (red) is unfolding to pull the price down to approx. FR 0.786, almost the bottom of the pennant (gray). If it breaks, what's the next target? Because Gann Square works well, we could focus on its crucial component - two Gann Fans 1 X 1 (blue). Interestingly, the crosspoint of the two Gann Fans coincides with the FR 1.272 level of the bearish dragon. If you look at the left side of the chart, this horizontal, 18460, will be conscious initially. But, because so many things overlap, no wonder it serves as significant support before the price reaches the current market low of 17600 at a continued downfall.
Short
by jackrabbitrage
4
BTC Bearish Dragon Pattern Unfolding On top of what could be a relief rally or a tentative bull run, a Bearish Dragon Pattern is unfolding, with active OI in Binance rapidly decreasing (indicator pane). Typical TP is FR 0.786, but if it breaks the channel and re-enters the pennant this time, I'd like to point out the possibility of passing down through it to reach, e.g., 1.272. The green ark would serve as a support. The scenario is invalidated if the top of the dragon (approx. 20500 ) is broken. See the related ideas for details of the scenario, the lines, arcs, etc.
Short
by jackrabbitrage
1
BTC at the intersection This is just a sketch. BTC is at the intersection of the arcs. It seems it's confined within. As always, meaningful moves would be after CES a couple of hours later. If the Gann Square works as expected, the more straightforward direction for BTC to go is down. In addition, the bearish dragon pattern of my previous idea hasn't unfolded completely. I have been bearish (at least) since it fell from 25k, so I am shorting as always. What would you see?
Short
by jackrabbitrage
2
Two Bearish Scenarios This is supplementary to my previous idea. If you don't like Gann Square and Arcs, ignore them, or skip this article. But how about the case where this upside was merely a fake out of the pennant? In the previous idea, I introduced a bearish scenario with an Elliott-wise impulsive movement. Considering the arc S&R, or the overall diagonal movement, it could also develop in a triple zigzag way (WXYXZ). I didn't examine a diagonal triangle scenario because it doesn't well fit the art S & R, but it could also be possible. On the other side, wave E of the triangle wave can extend to mark a new high. A robust bullish movement from here may invalidate all my bearish scenarios. Still, theoretically, these scenarios aren't invalidated until the previous high (22850) is broken (though I would close my short position if it went far beyond 21200). Regarding the support, whether approx. 19750 and 19150 lines hold or not would be the judgment (19750 once having been attacked).
Short
by jackrabbitrage
One idea for BTC Elliott wave count (revised)Wave counts corrected. The uppermost W wave begins with a zigzag whose first part is a diagonal triangle with a thrust, followed by wave X adjacent to wave Y, which is also counted as a triangle. The whole structure can be counted as a diagonal triangle ABCDE instead of the triple zigzag WXYXZ, in which case a thrust will likely appear at the end of wave E. Just an idea. Including revisions on previous ideas. WXYXZ: Elliot triple combo waves (e.g., a triple zigzag ) WXY: Elliot double combo waves (e.g., a double zigzag ) Basic principle: If a wave is a zigzag, it comprises three waves decomposed as 5-3-5. If WXY or WXYXZ is a zigzag , W, Y, and Z are each a zigzag . W, Y, and Z waves can each be a double or triple zigzag . X wave can be any corrective wave. Notes: A complex corrective wave often comprises fractal complex corrective structures. A triangle RARELY appears in the second wave of an orthodox impulse. A triangle prevents an equal-sized reversal pattern (a double top, a head-and-shoulders) from forming until it completes. If a HORIZONTAL triangle seems to have an extended E wave, it should instead be counted as a three-wave structure. Truncation is not considered in this count. Gann Square placement is just an idea. Please don't blame me for the number of components. I applied it this time so X waves or minor corrective movements don't penetrate the arcs. Warning: This is just an idea. Another counting would be possible. I don't insist this is the only correct answer. Before posting meaningless comments (e.g., "so many lines!") or groundless criticism (e.g., "no way!"), or any insulting comments, check your knowledge for counterarguments and read THE ABOVE, relevant textbooks for definitions of any theories and tutorials for the built-in tools. Any inappropriate posts will be immediately reported.
by jackrabbitrage
One idea for BTC Elliott wave count (revised) Just an idea. Including revisions on previous ideas. WXYXZ: Elliot triple combo waves (ex. a triple zigzag) WXY: Elliot double combo waves (ex. a double zigzag) Basic principle: If a wave is a zigzag, it comprises three waves decomposed as 5-3-5. If WXY or WXYXZ is a zigzag, W, Y, and Z are each a zigzag. W, Y, and Z waves can each be a double or triple zigzag. X wave can be any corrective wave. Notes: A complex corrective wave often comprises fractal complex corrective structures. A triangle RARELY appears in the second wave of an orthodox impulse. A triangle prevents an equal-sized reversal pattern (a double top, a head-and-shoulders) from forming until it completes. If a HORIZONTAL triangle seems to have an extended E wave, it should instead be counted as a three-wave structure. Truncation is not considered in this count. Gann Square placement is just an idea. Please don't blame me for the number of components. I applied it this time so X waves don't penetrate the arcs. Warning: This is just an idea. Another counting would be possible. I don't insist this is the only correct answer. Before posting meaningless comments (e.g., "so many lines!") or groundless criticism (e.g., "no way!"), or any insulting comments, check your knowledge for counterarguments and read THE ABOVE, relevant textbooks for definitions of any theories and tutorials for the built-in tools. Any inappropriate posts will be immediately reported.
Short
by jackrabbitrage
Will BTC go to 14220? / Examining Rebound to 20200 This is an update from my previous posts (see related ideas below). A huge double-top is set up, so we would see a new low if support is broken. On the other hand, we could also see a bullish dragon (green triangle; double-bottom and diagonal resistance). -Short to Middle-Term Bearish Scenario Maybe considerable downfall, but where to land? Speculation. Given the Gann Square and arcs, which BTC arguably respects, symmetrical movement across its horizontal radius isn't unimaginable. My primary scenario is BTC will finally bottom around 12500, and the secondary is sub-10000 at a selling climax, but BTC always betrays our expectations. So around 14220, Fibonacci Extention 1.272 of the double-top, could also be a point to watch. -Short-Term Bullish Scenario If the price breaks the resistance lines to form a bullish Dragon pattern (green, for example), a rebound to 20200 or higher is possible.
Short
by jackrabbitrage
3
Update: ETH's arc suport lost. Next 1250, or 1180 This is an update from my previous post (see the related ideas below). The arc support, Fibonacci extensions' 0.786 of the large H& S, is now lost. The red candle is testing the bottom of the channel. A rebound is possible here but considering the absence of the arc's support, together with the established larger and smaller Head and Shoulders, the price might not be grounded still after the plummet. Instead, I suppose ETH may find more solid support somewhere on Gann Fan (green), as explained in my previous ideas. So watch 1250 (channel) and 1180 (Gann Fan) next.
COINBASE:ETHUSDShort
by jackrabbitrage
ETH's support levels- analysis based on Gann Squre and arcs With the Etherium merge complete, the predicted dump might be incoming. TA-wise, Gann square played out perfectly and still indicates support levels that could be relied upon based on the previous prediction result. Watch Gann Fan* 1 x 3 (green) if the price further goes down through the crosspoint of the arcs. Because significant support lines are absent immediately below, It seems prices like 1256, 1189, and 1123 aren't so far-fetched if a stronger sellout takes place. The intersections of Gann Fan with Fibonacci levels would provide solid support. Shaded aqua-colored zones also indicate S & R like Ichimoku cloud, based on my previous observation. * A component of Gann Square. I emphasized it with a different (green) color.
COINBASE:ETHUSDShort
by jackrabbitrage
1
ETH on key levels: Gann Square Analysis This is an elaboration of my previous idea about the ETH's resistance levels, this time using Gann Square (and arcs). As can be seen, every arc and fan behaves as support & resistance. White diagoanl line is Gann 1 x 1. Trends above it are sad to be strong, and trends below it are weak if the square is properly applied. Overall, this Diagram shows how important but difficult it is for ETH to break through the two key levels: the current price zone and the previous high.
COINBASE:ETHUSDShort
by jackrabbitrage