BTCUSD update. Not much has happened in the bitcoin movement since my last analysis. The fractal shown in the chart is still valid, so I am still holding the upside, but I am also preparing for a possible position close. The chart shows a thicker maroon line. This level is the average of the ATRs for the last 14 days of the price that closed down on that day. In other words, the level whose retest could be a healthy correction of a rising move. In the event that the bitcoin lands below this and the price movement enters the area marked by the purple square, I will close my LONG position. For now, with a small profit, I expect a rise. I will keep my target prices and further movement path in place.
This is incredible - I realise there are other forces at play and it doesn't always play out, but the fractal approach to analysis is fascinating, thankyou.
@meszaros, what do you reckon?
To me it looks like the price has not violated your analysis and still follows this fractal.
Everything just seems to drag in time a lot like in the global pattern.
artisticHead41326
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Thanks for sharing this analysis. Do you have any update about when would be the bottom?