vey

Playing with fractal

BITSTAMP:BTCUSD   Bitcoin / Dollar
192 5 1
UPDATED VERSION OF THIS IDEA:

Update from previous idea: bullish fractal still remains valid


Update from previous idea: bullish fractal still remains valid


Found out that the daily and 3day timeframes from December 2013 top to today are forming an almost perfect fractal of the 4H timeframe December 2013 - May 2014 period. Bottom formed by 6-7-8 could be a copy of 2.
I suggest you open a 4H timeframe chart and check the 1 2 3 zone. You will notice the similitude with the overall 1 to 9 pattern on the 3D.

If $300 clearly breaks, that should take us to the $415/420 zone.

Here is a screenshot of the 4h TF period:
snapshot
vey
a year ago
snapshot
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vey vey
a year ago
Just an update following the top from yesterday being higher than expected. Tbh I don't think this will play out anymore, but just logging it here for the record:
snapshot
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frisby
a year ago
Nah we won't go up so linearly, we might soon start with increasing the speed and then short parabolic at the end before serius pullback. This top could be higher as also was preety high in LTC, maybe near $600.
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frisby frisby
a year ago
If we won't start speeding now we will pullback before seriously breaking $300.
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vey frisby
a year ago
It could indeed go higher. the purpose of this chart is simply to highlight the perfect fractal match the past 19 months of trading represent when comparing to December 2013/May 2014. Point being, if we break clean the 310 area, 415ish is a good and safe target.
We went thru couple formations like this in the past and they were all parabolic and insta retrace apart from the one exposed in the 4h chart in the comments.
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