How a perfect chart would look if the 2017 cycle was perfectly repeated. I would expect the charts to meet at the obvious initial convergence point, then not again until the very top.
The wedge that BTC likes to range between each cycle shifts down for the subsequent cycle. The chart should be fairly clear with regards to what it is showing - the black ranged slipped down to the green, and the green is currently slipping down to the red. Time will tell how closely it matches what is drawn here, but regardless it will likely follow the rough pattern.
The same idea as the previous post, only adjusted to monthly candles. With monthly candles the cycle top is lower and later into 2025, when compared to the weekly candles used in the previous post. Which one is closer to the eventual unfolding remains to be seen.
It's a scribble, not much to explain. But apparently I have to give a longer description so here you go.
Just to check back on in the future. I don't know the theory behind this fib overlay and this is just very much non-serious charting
ABC correction for Bitcoin with estimate for trend reversal back to positive direction.
This wedge has found it's central horizontal support line above prior PA support, so this should break upwards.
BTC has entered a wedge formation on the 4 hr chart with the earlier support of this structure acting as the new resistance. This would suggest weakness in the chart's local structure, and a possible break down to a higher time frame support at the beginning of next week. PA after that would depend on how BTC acts at that support.
Will BTC retrace here or will it continue on its current trajectory ? A lazy chart, but one that should clarify directional momentum. Will support hold at the line or will it fall right through it? If it falls through we are lacking the momentum necessary to get higher.
A test to simply see how long BTC will stay in this channel. Fib channel is just experimental. Red lines are the channel that would likely break to the upside.
A pattern playing out in ROSE price action that should play into the future
I drew some squiggly lines that market intuition has me believing. Stoch RSI based.
A pattern playing out in ROSE price action that should play into the future
Testing the validity of time based Fibonacci markers. Prediction: $0.00048 at 04:00GMT on Nov 3rd Using the Fib time zone on the first micro peak at the start of it's run, a set of time zones could be established that matched reasonably well with succeeding peaks. This left the remaining -55- marker and the -89- marker at 04:00 GMT on Nov 3rd and 09:00 on Nov...
Analysis based on fib retracements from previous peaks to new peaks. The 2.618 first peak retracement line matches with the two succeeding peaks and this analysis assumes it will hold for the third, at which point a pattern can be established. A time based Fibonacci is drawn from the prior peak to it's succeeding trough, with the first (3) fib line matching the...