Looking for pivot points with candlestick patterns at the shapes which most of them are projected zones of influence or support/resistance. I anticipate one big turnaround/reversal with a candlestick pattern at one of the shapes. My first guess is the crossed ellipse in the middle, but also the other red rectangle with a cross might be the exception to the rules of this Matrix.
The icons are potential price predictions.
Similar projects as this one have delivered interesting results. Linked ideas to this one.
The icons are potential price predictions.
Similar projects as this one have delivered interesting results. Linked ideas to this one.
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First action near a shape in this project and it doesn't disappoint. Rebound with a candlestick shadow (could be temporary as the day is not closed) at the first rectangle. I wouldn't consider this a decisive signal for a pivot point, but this should get interesting. Looking for some more interesting reactions at the projected zones of influence.
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Bounce back
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More resistance met in the rectangle zone.
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More resistance in the rectangle for bitcoin. The day is not over yet but it would be interesting to see if this turns out to be a pivot point: the time stamp of the icon.
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Out of the woods, out of the green rectangle, which proved to be a solid consolidation zone. Big blob lurking above, but it might not scare the bulls in the current climate. We are 7 days away from the marked date time stamp of the green dot icon. This date could be interesting.
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As mentioned in the previous comment the blob did not scare the bulls. Also, on the date of the green dot we had a bounce from the ellipse with a candlestick shadow left behind. Asking myself how could this go on and reach the 46 milestone I am left pondering about scenarios of future consolidation and zig zags, not necessarily a slide down along the ellipse, ending hopefully in a pivot point signal than can provide an entry point for future upwards movement. A second one would be even more enticing, providing an opportunity to add on that position and hope for the best.
The selection of simulated potential future candles is purely subjective and has nothing to do with the future that is uncertain according to the laws of causality in the Universe that we so dearly love. The Concept that the Universe might be a simulation and time and causality illusions, are purely subjective random patterns of thought that don't even qualify as potential contemplation subjects of philosophy.
The selection of simulated potential future candles is purely subjective and has nothing to do with the future that is uncertain according to the laws of causality in the Universe that we so dearly love. The Concept that the Universe might be a simulation and time and causality illusions, are purely subjective random patterns of thought that don't even qualify as potential contemplation subjects of philosophy.
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The formation at the top proved to be a pivot point. Found some support at the marked price level. No case for the bulls yet in sight, and if the bearish momentum continues, but diminished, sliding slowly towards the end of the ellipse where the time stamp is, there could appear an opportunity in case of a reversal. Price action to be analyzed at the specific situation.
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4 candlestick shadows at around the same level and a nice bullish engulfing at the end.
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This setup right here is theoretically a potential pivot point but I don't find a lot of confidence in it that it can push higher. BTC might try to seek refuge on lower ground before trying again to push. (off topic /similar setup on LTC looks more convincing, also that one has been lagging compared to other stronger coins)
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Scenario from previous comment partially confirmed. Drop from 43600 to 42000. Don't know where it will stop...
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Inflection point at the marked time stamp.
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Bounce from the marked price level with a big candlestick shadow, in this case can be called a spike. The main question for today and maybe for the whole year is if bitcoin will ever get back to this level and break it below.
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A very interesting potential reversal signal candle (/day not over yet) with the candlestick shadow right above the marked price level.
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Pivot point at the marked time stamp.
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A hit on the red not. Not sure this will grind its way towards the next one on the next level, or completely bypassing it with greater volatility and impulse stability. This one might have another correction or to in it in the near term.
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Quick update regarding the second red dot. At the beginning of the project it looked like a far idea in time as a price hit target, but from this position it can look scary for the bulls. In this snapshot I have highlighted a potential zone of pressure lurking above in the red rectangle. Also we have 2 simulated scenarios with dots, and a green pathway for the high hopes. All scenarios have the red resistance zone lurking above... unfortunately. Everyone is long biased on BTC so there is no point in touching shorting scenarios for the futures traders. hopefully there will be another interesting event and crucial inflection point in this project before it ends. there is a time stamp coming soon, but it might not bring up much.
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3rd inflection point & reversal at the last marked time stamp and a power bull wave. All bets are off though after this bearish candlestick. Doesn't look good. Hope I am wrong. When will we see BTC at 120?
