Price will tap in to the bottom trendline of the pattern formed and move towards completing 90% of the pattern on the daily timeframe. However, if price breaks the bottom trendline to reach the previous weekly support area, then it will tap in to that liquidity and price will potentially shoot upwards to complete 90% of the pattern formed on the daily timeframe.
Price seems to potentially form a large head & shoulder pattern. If formation completes then a heavy price fall is expected to reach a bottom key level.
Overall descending channel. Price gave us a third touch on the supporting trendline of the pattern, moved to with an impulse to the upside and gave us a continuation pattern (correction) to signal a buy entry. In falcon, price moves in two forms: impulse & correction. We had our first impulse and correction so we're now expecting another impulse to the upside.
Bitcoin , the one and only that we all are looking at is in Falcon Wave C. Falcon Waves is an ongoing research that I am doing and runs in Wave A, B and C. Where Wave C is the last leg down in 5 waves. For BTCUSDT, this will end 40184 USDT. This also coincides with monthly key level and daily key level area marked in brown and blue boxes in the chart. What...
Falcon Waves are ABC waves that are not based on Elliott Wave concept but completely different momentum based concept. Wave A is three waves down, wave B is three waves up and wave C is 5 waves down. Here we are looking at pattern that is unfolding into 5 waves down for completion of wave C. Everything is marked in the chart with expectations. I will post...
Gann Fan is amazing, it is very straight forward and gives us an idea about market bounces. Here in Falcon CCI, the Gann Fan will give us bounces where market will change its direction, a trend reversal perhaps. This method can be used when we are not sure where the market is going and gives a very clear indication so far in 2021. I have done some back testing...