UnknownUnicorn18557992

BTCUSDT FRACTAL IDEA

INDEX:BTCUSD   Bitcoin
The top chart is from 2019-2020 right after BTC reached it's ATH at almost 20K. If you look at May 7, 2020 around 3pm and retrace you can see BTC has currently been making some similar moves. I've messed around with fractals before and there's always a point when the market decides to do the complete opposite and I think It may be close to that time. In 2018 BTC continued up after running into bullish divergence (RSI) in a strong buy zone and then regaining position in the ATH buy zone, giving it a good bump to the upside. The current chart shows we have more strong sell zones and the buy zone for our new ATH was not strong at all, and is shielded buy a strong sell wall. Also, it looks as if we are currently in distribution rather than re-accumulating as we were in the fractal.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.