BTC Giving Clues on Next Move Via Fib Circles & Trading Channel
Okay guys here's my update for Thursday, July 25th, 2019. There have been some significant synchronicity phenomena on my recent fib circles that I have to talk about! I cannot crack this up to luck!
Looking at the chart, we can see the blue fib circles that I constructed a few days ago that are based on the July 10th to July 16th date range. We had the big red candle (on the 1-hour chart) that took us STRAIGHT down to the 3.618 line of this fib circle set. The next several candles crawled RIGHT UP THE LINE, and I predicted a divergence as soon as that big green pump candle came back to touch the blue line directly. Well, it did just that, and propagated horizontally... to the very next and newest fib circle set that I constructed based on the closing of the previous micro trading channel.
When you look at the ascending channel from the 17th to about the 21st, you see that we hit a peak and reversed trend, starting the very narrow trading channel that I have delineated on the chart in red, beginning with the red down arrow. The price bounced around that descending channel for a couple of days, before engaging that blue 4.618 fib circle boundary. But I digress... the new set of orange circles is based on the July 17th to July 19th date range, because of the change in direction following this up-channel. When you construct the orange fibs based on this swing, you see several points of confluence. One is the dump on the 24th, and the other is the small dump that occurred today, right on the 3.618 line. This cannot be happening by chance.
Let's move on to the trading channel that I have outlined, which is the bigger parallel channel based on the ATH of $13,800, the next lowest-low point, and the last highest but lower high point. I haven't seen anyone looking at this bigger trading channel because they are too focused on the smaller falling wedge. The reason this channel could be important is due to the fact that the bottom instersects with the blue 4.236 fib circle boundary that is coming up. Keep in mind, the BIG RED 4.236 below the current trading action could end up being a swing point, IF the price action falls down to that area.
But back to the point, I see something happening when we get close to that blue 4.236 line. We will more likely move downward until we get to that boundary. THEN, I see a POSSIBILITY of a big pump before we continue the correction. Why? Because this micro phase could be over, within our overall bear trend. We could jump up to the top of that trading channel, and pivot. If we do, that will confirm the 3rd overall lower-high, and then we will finish what I believe to be the last correction before the next consolidation and true bull market.
You'll need to watch my 2 short 5-minute videos to understand what I am seeing here. Please check them out, and subscribe to my YouTube channel and comment there if you would. I would love to hear your thoughts and ideas. Here are the links!
BTC Update - Clues to What Happens Next from the Fib Circles Part 1
BTC Update - Clues to What Happens Next from the Fib Circles Part 2
As always, this is NOT trading advice. Do not make decisions based on what you see here. Consult a professional financial advisor FIRST.
Looking at the chart, we can see the blue fib circles that I constructed a few days ago that are based on the July 10th to July 16th date range. We had the big red candle (on the 1-hour chart) that took us STRAIGHT down to the 3.618 line of this fib circle set. The next several candles crawled RIGHT UP THE LINE, and I predicted a divergence as soon as that big green pump candle came back to touch the blue line directly. Well, it did just that, and propagated horizontally... to the very next and newest fib circle set that I constructed based on the closing of the previous micro trading channel.
When you look at the ascending channel from the 17th to about the 21st, you see that we hit a peak and reversed trend, starting the very narrow trading channel that I have delineated on the chart in red, beginning with the red down arrow. The price bounced around that descending channel for a couple of days, before engaging that blue 4.618 fib circle boundary. But I digress... the new set of orange circles is based on the July 17th to July 19th date range, because of the change in direction following this up-channel. When you construct the orange fibs based on this swing, you see several points of confluence. One is the dump on the 24th, and the other is the small dump that occurred today, right on the 3.618 line. This cannot be happening by chance.
Let's move on to the trading channel that I have outlined, which is the bigger parallel channel based on the ATH of $13,800, the next lowest-low point, and the last highest but lower high point. I haven't seen anyone looking at this bigger trading channel because they are too focused on the smaller falling wedge. The reason this channel could be important is due to the fact that the bottom instersects with the blue 4.236 fib circle boundary that is coming up. Keep in mind, the BIG RED 4.236 below the current trading action could end up being a swing point, IF the price action falls down to that area.
But back to the point, I see something happening when we get close to that blue 4.236 line. We will more likely move downward until we get to that boundary. THEN, I see a POSSIBILITY of a big pump before we continue the correction. Why? Because this micro phase could be over, within our overall bear trend. We could jump up to the top of that trading channel, and pivot. If we do, that will confirm the 3rd overall lower-high, and then we will finish what I believe to be the last correction before the next consolidation and true bull market.
You'll need to watch my 2 short 5-minute videos to understand what I am seeing here. Please check them out, and subscribe to my YouTube channel and comment there if you would. I would love to hear your thoughts and ideas. Here are the links!
BTC Update - Clues to What Happens Next from the Fib Circles Part 1
BTC Update - Clues to What Happens Next from the Fib Circles Part 2
As always, this is NOT trading advice. Do not make decisions based on what you see here. Consult a professional financial advisor FIRST.