Saturday will be a down day for Bitcoin, or sideways, before moving up again starting Sunday.
I am only saying this for the record as I have been keeping track of Gann Planetaries for timing and Saturday the 21st and the next Saturday, the 27th, have no alignments whatsoever, the only two days with absolutely nothing this month.
This Gann thing is an experiment for me, so don’t trade on this, but you might want to place appropriate stops in case of a bigger fall.
Fall will begin after the close of todays daily candle. Today’s RISE came at about the same time as a planetary alignment, so Gann has some precedence here.
Other indicators are 1) that the 50 MA has not turned up yet and reversals to the downside tend to occur around this point as the 50 MA slopes downward and prices edge over the MA to the upside, 2) we reached our goal of 8440 as promoted in my last chart saying there was significant resistance from both the 50 MA and the upper Bollinger Band. Upper BB is now at 8700, so we do have some more leeway. But 50 MA is still an intact indicator.
THE GOOD NEWS: If Gann is correct, then this is only a one day event, a 24 hour correction (or sideways movement) before heading higher, something we need to see for more stabilization. We want to stay away from that upper BB as that is usually a big reversal point. If we slowly grind higher at a steady pace, that would be a lot better.
Other good new is we have a green 1 on the TD count after a brief red 1 that only lasted a day. The green 1 is also an indicator that Saturdays downturn, should it appear, will be shortlived.
THOUGHTS ABOUT THE NEXT GANN ON SATURDAY THE 27TH: Observations using other indicators show our medium top range in price to be 8800-9100. If Gann timing is correct, then we pause or correct on the 21st (tomorrow) and then head higher into this range of 8800-9100 and then hit another Gann timing event on the 27th. We take another breather on that day, maybe drop a bit as we not only hit fib resistance but also the top range according to Elliot Wave. My guess is we are also at the top of the BB.
I’d like to see that 50 MA turn up during this time, but it is usually a bit of a fight before it does since that is a definite signal of trend reversal.
After hitting 8800-9100, we will see a minor slowdown in prices, a minor Elliot Wave count down before resuming our move to 10k-13k. Therefore, I HODL.
(None of this should he taken as investment advice)
youtu.be/NCtzkaL2t_Y
I am only saying this for the record as I have been keeping track of Gann Planetaries for timing and Saturday the 21st and the next Saturday, the 27th, have no alignments whatsoever, the only two days with absolutely nothing this month.
This Gann thing is an experiment for me, so don’t trade on this, but you might want to place appropriate stops in case of a bigger fall.
Fall will begin after the close of todays daily candle. Today’s RISE came at about the same time as a planetary alignment, so Gann has some precedence here.
Other indicators are 1) that the 50 MA has not turned up yet and reversals to the downside tend to occur around this point as the 50 MA slopes downward and prices edge over the MA to the upside, 2) we reached our goal of 8440 as promoted in my last chart saying there was significant resistance from both the 50 MA and the upper Bollinger Band. Upper BB is now at 8700, so we do have some more leeway. But 50 MA is still an intact indicator.
THE GOOD NEWS: If Gann is correct, then this is only a one day event, a 24 hour correction (or sideways movement) before heading higher, something we need to see for more stabilization. We want to stay away from that upper BB as that is usually a big reversal point. If we slowly grind higher at a steady pace, that would be a lot better.
Other good new is we have a green 1 on the TD count after a brief red 1 that only lasted a day. The green 1 is also an indicator that Saturdays downturn, should it appear, will be shortlived.
THOUGHTS ABOUT THE NEXT GANN ON SATURDAY THE 27TH: Observations using other indicators show our medium top range in price to be 8800-9100. If Gann timing is correct, then we pause or correct on the 21st (tomorrow) and then head higher into this range of 8800-9100 and then hit another Gann timing event on the 27th. We take another breather on that day, maybe drop a bit as we not only hit fib resistance but also the top range according to Elliot Wave. My guess is we are also at the top of the BB.
I’d like to see that 50 MA turn up during this time, but it is usually a bit of a fight before it does since that is a definite signal of trend reversal.
After hitting 8800-9100, we will see a minor slowdown in prices, a minor Elliot Wave count down before resuming our move to 10k-13k. Therefore, I HODL.
(None of this should he taken as investment advice)
youtu.be/NCtzkaL2t_Y
Comment:
As of 8:18am MT it looks as if we are undolding as stated above. We made a very nice move the day before, amd all this week as predicted in earlier charts.