Mr_Elmo
Short

Fractal from 2-02 to 2-07 - trade safe

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
trade safe, i am not a financial expert and just learned how to use bar pattern
Comment: So some people wanted further explanation with regards to what I'm seeing here. I took a fractal patterns (historical completed Elliott waves) from Feb 2nd through Feb 7th and overlayed it to our current pattern starting on the 7th. I noticed the correlation between the peaks and valleys earlier, so I used the bars pattern to make the Fractal and overlay it. Since this is a pattern based on 15minute candles and not something more locally accurate (1m or 5m), I think this is better used as a general road map instead of a candle by candle trend. We can see that while we have deviated slightly in some of our movements, we are still following the general trend of the Fractal. The big moment will come at the third peak which would place us around $8500-8600. This is where we could fork upwards if we break the Fib level there, however buy pressure currently doesn't seem to have enough to exert a break. Only time will tell however. Once again I'm not a financial adviser and would only utilize this as a reference tool in addition to your own TA. Good luck :)
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