Was not a good start to the week.
Comment:
I really like this chart.
Comment:
Nice Fib levels so far- Sunday's High $9,565.1; Sunday's low $9,188.7; and Monday's low $9,099.9; Fib low using those three points would nicely extend to $8,812.3. Current Tuesday's low $8,818 just shy of $8,812. Will it break out of my shaded triangle?
Comment:
JUST THOUGHT TO ADD THREAD OF MY EARLIER POSTS IN CASE SOME DETAILS ON THE CHART ARE NOT UNDERSTOOD. THE GREY TRIANGLE AREA IS SET WITHIN IMPORTANT DIAGONAL TREND LINES (ESPECIALY SO IF THEY BEGIN WITH A FRACTAL TOP OR BOTTOM)
Apr 28 #Bitcoin Support $8,616 Go Long While Down Fractal Forming
--------> Apr 28 Stop and review if break below $8,616. Will update chart with later post once down fractal arrow shows up. It looks like a bullish week ahead on weekly chart.
--------> Apr 28 Comment: If we don't get confirmation of a down fractal, then I guess will end up with a third up fractal
Apr 29 #Bitcoin Williams Fractals ready to power ahead.
--------> Apr 29 Stop and review if break below $8,616. Then again other support levels above that should hold. As per previous post it looks like a bullish week ahead on weekly chart.
--------> Apr 30 Comment: Based on yesterdays $9,565.1 high could see a re-test of support below $8,800. Could use an H & S to work that out. Still bullish on the weekly chart for me. I'd only review if price broke through $8,616 (base of pink box in my chart).
--------> Apr 30 Comment: Been trying to work out if market could set off on another down fractal to below $7,823 as it looks such an unexciting start to the week so far but as the market hasn't already broken $,8616 on a previous day I've got no previous pattern this year to support such an idea.
Apr 30 #Bitcoin key to next big move here's why.
--------> Apr 30 Turquoise (light blue) shaded areas in my chart are formed whenever you get a consecutive day with either green or red vertical bars in my MACD . A green vertical is formed when you get a green candlestick but MACD bar drops. A red vertical is formed when you get a red candlestick and MACD bar rises. This has only happened six times this year. Each time except one occasion had you gone with the break out you win. On the occasion it didn't happen the market closed up one day out of the range and then reversed the next day to close down below the previous day's open and continued down in that direction. Good idea or not?
Apr 28 #Bitcoin Support $8,616 Go Long While Down Fractal Forming
--------> Apr 28 Stop and review if break below $8,616. Will update chart with later post once down fractal arrow shows up. It looks like a bullish week ahead on weekly chart.
--------> Apr 28 Comment: If we don't get confirmation of a down fractal, then I guess will end up with a third up fractal
Apr 29 #Bitcoin Williams Fractals ready to power ahead.
--------> Apr 29 Stop and review if break below $8,616. Then again other support levels above that should hold. As per previous post it looks like a bullish week ahead on weekly chart.
--------> Apr 30 Comment: Based on yesterdays $9,565.1 high could see a re-test of support below $8,800. Could use an H & S to work that out. Still bullish on the weekly chart for me. I'd only review if price broke through $8,616 (base of pink box in my chart).
--------> Apr 30 Comment: Been trying to work out if market could set off on another down fractal to below $7,823 as it looks such an unexciting start to the week so far but as the market hasn't already broken $,8616 on a previous day I've got no previous pattern this year to support such an idea.
Apr 30 #Bitcoin key to next big move here's why.
--------> Apr 30 Turquoise (light blue) shaded areas in my chart are formed whenever you get a consecutive day with either green or red vertical bars in my MACD . A green vertical is formed when you get a green candlestick but MACD bar drops. A red vertical is formed when you get a red candlestick and MACD bar rises. This has only happened six times this year. Each time except one occasion had you gone with the break out you win. On the occasion it didn't happen the market closed up one day out of the range and then reversed the next day to close down below the previous day's open and continued down in that direction. Good idea or not?
Comment:
Nice reverse H & S appears to be forming on 30 minute chart (yet to complete last shoulder). Head is $8,968.3 and neckline $9,100 which when broken could see us up to nearer $9,231.3 next.
Comment:
Market found resistance at 50% retrace and looks like we got a double top going 1st peak $9,166.3 and second at $9,204.3. Drop in the middle is $9,105.5 so double the difference with highest peak and could see us down to nearer to $9,006.7 next (lowest so far $9,036.3).
Comment:
Run up to that double top could be part of a bear flag.
Comment:
If it is part of a bear flag then I guess price could drop to between $8,968.3 and $8,616. Both are key support levels in my chart.
Comment:
Actually I think I'll correct that bear flag idea, as I may have got that identification and calculation wrong. I'll leave it to somebody else.
Comment:
I've re-posted below an edited list of my postings so far this week. I've left out postings about patterns on lower timeframes.
**************************************
April28 #Bitcoin Support $8,616 Go Long While Down Fractal Forming
--------> Apr28 Stop and review if break below $8,616. Will update chart with later post once down fractal arrow shows up. It looks like a bullish week ahead on weekly chart.
April29 #Bitcoin Williams Fractals ready to power ahead.
--------> Apr29 Stop and review if break below $8,616. Then again other support levels above that should hold. As per previous post it looks like a bullish week ahead on weekly chart.
April30 #Bitcoin key to next big move here's why.
--------> April30 Turquoise (light blue) shaded areas in my chart are formed whenever you get a consecutive day with either green or red vertical bars in my MACD . A green vertical is formed when you get a green candlestick but MACD bar drops. A red vertical is formed when you get a red candlestick and MACD bar rises. This has only happened six times this year. Each time except one occasion had you gone with the break out you win. On the occasion it didn't happen the market closed up one day out of the range and then reversed the next day to close down below the previous day's open and continued down in that direction. Good idea or not?
May1 #Bitcoin Day Chart poor start to the week
--------> May1 Was not a good start to the week.
--------> May1 Comment: I really like this chart.
--------> May1 Comment: Nice Fib levels so far- Sunday's High $9,565.1; Sunday's low $9,188.7; and Monday's low $9,099.9; Fib low using those three points would nicely extend to $8,812.3. Current Tuesday's low $8,818 just shy of $8,812. Will it break out of my shaded triangle?
May2 #Bitcoin being squeezed for a break-out
--------> May 2 Have updated daily chart . As previously posted the grey triangle area is set within important diagonal trend lines (especialy so if they begin with a fractal top or bottom). I'm now using the fractal low of $8,652.2 and $8,818 to construct a diagonal trend line on the basis that the market today May2 wont break below . A break below this trend line if set-up correctly, and based on previous set-ups was bearish . Below that trend line there would be support levels of $8,750 and $8,616 to break too. There would also be the older diagonal trend line.
--------> May3 Comment: A good bullish fractal high on the weekly chart would be above $11,788. How long will it take?
--------> May3 Comment: Potential resistance points on my charts $9,577 then $9,900 then $10,700 then $11,788 (last fractal high on weekly chart) plus $11,306 on my weekly chart
--------> May4 Comment: Finally, breakout. Don't want to see market closing back below May 3rd open - simply put the turquoise (light blue) shaded area has only appeared 6 times this year and five times was a huge win, only once was a huge win the other way.
**************************************
April28 #Bitcoin Support $8,616 Go Long While Down Fractal Forming
--------> Apr28 Stop and review if break below $8,616. Will update chart with later post once down fractal arrow shows up. It looks like a bullish week ahead on weekly chart.
April29 #Bitcoin Williams Fractals ready to power ahead.
--------> Apr29 Stop and review if break below $8,616. Then again other support levels above that should hold. As per previous post it looks like a bullish week ahead on weekly chart.
April30 #Bitcoin key to next big move here's why.
--------> April30 Turquoise (light blue) shaded areas in my chart are formed whenever you get a consecutive day with either green or red vertical bars in my MACD . A green vertical is formed when you get a green candlestick but MACD bar drops. A red vertical is formed when you get a red candlestick and MACD bar rises. This has only happened six times this year. Each time except one occasion had you gone with the break out you win. On the occasion it didn't happen the market closed up one day out of the range and then reversed the next day to close down below the previous day's open and continued down in that direction. Good idea or not?
May1 #Bitcoin Day Chart poor start to the week
--------> May1 Was not a good start to the week.
--------> May1 Comment: I really like this chart.
--------> May1 Comment: Nice Fib levels so far- Sunday's High $9,565.1; Sunday's low $9,188.7; and Monday's low $9,099.9; Fib low using those three points would nicely extend to $8,812.3. Current Tuesday's low $8,818 just shy of $8,812. Will it break out of my shaded triangle?
May2 #Bitcoin being squeezed for a break-out
--------> May 2 Have updated daily chart . As previously posted the grey triangle area is set within important diagonal trend lines (especialy so if they begin with a fractal top or bottom). I'm now using the fractal low of $8,652.2 and $8,818 to construct a diagonal trend line on the basis that the market today May2 wont break below . A break below this trend line if set-up correctly, and based on previous set-ups was bearish . Below that trend line there would be support levels of $8,750 and $8,616 to break too. There would also be the older diagonal trend line.
--------> May3 Comment: A good bullish fractal high on the weekly chart would be above $11,788. How long will it take?
--------> May3 Comment: Potential resistance points on my charts $9,577 then $9,900 then $10,700 then $11,788 (last fractal high on weekly chart) plus $11,306 on my weekly chart
--------> May4 Comment: Finally, breakout. Don't want to see market closing back below May 3rd open - simply put the turquoise (light blue) shaded area has only appeared 6 times this year and five times was a huge win, only once was a huge win the other way.
Comment:
Correction:Green vertical in MACD above 26 April should be colour red.