BTC: Fractal crash structure repeats. Is 53k the base?
I have to publish this as a 15-minute chart because TradingView doesn't let authors publish charts below 15 minutes. But the original I've been mapping this on, as a study, is a 5-minute chart.
Fascinating to me how the seven-wave crash structure is repeating in fractals throughout BTC's price action when sustained moves down occur.
This whole section is full of seven-wave movements.
And the whole section itself is a seven-wave movement.
I've only numbered a few of these fractal structures in this chart as there are so many of them. But maybe this is a useful example for those seeking to track such downside movements.
Again, this is a 5-minute chart.
Below is a comparison to the seven-wave crash structure BTC printed 14-25 April. In the ellipse is what the chart above is showing.
If this whole structure repeats, we might see the base come in around 53k.
Will we see a bounce and direction reversal from there, as earlier, or will BTC range and continue down in a new seven-wave crash structure movement?
Feel free to comment.
Fascinating to me how the seven-wave crash structure is repeating in fractals throughout BTC's price action when sustained moves down occur.
This whole section is full of seven-wave movements.
And the whole section itself is a seven-wave movement.
I've only numbered a few of these fractal structures in this chart as there are so many of them. But maybe this is a useful example for those seeking to track such downside movements.
Again, this is a 5-minute chart.
Below is a comparison to the seven-wave crash structure BTC printed 14-25 April. In the ellipse is what the chart above is showing.
If this whole structure repeats, we might see the base come in around 53k.
Will we see a bounce and direction reversal from there, as earlier, or will BTC range and continue down in a new seven-wave crash structure movement?
Feel free to comment.
Comment:
05 May 2021 04:03:49: Things got a bit messy at the end. The first target I want to see achieved is to break the channel. It's hard to accurately count the waves in this structure. It's possible there is another section to be printed. If that were the case, given where the first leg reached down to, I would expect the second leg to go further than 53. Impossible to predict, I think. We can only observe until the trend in either direction is confirmed.
Comment:
05 May 2021 11:59:18: Caution remains advisable, until and if some of these levels are cleared. Especially 57.6.
Comment:
05 May 2021 12:20:34: Once you see this seven-wave structure, and how frequently it plays out across all assets and charts, and in both directions, to the upside and downside, it becomes very noticeable. Given that it is fractal in nature (seven waves play out within the seventh wave, and another seven within that seventh of the sub-wave), you can always face another in play, getting bigger and bigger, depending on the direction.
I'm not saying BTC's downside movement will continue. 53 could still be the base, mirroring the same sequence that started the April correction. But: at the macro, April *should* be a deeper correction (in percentage value) than February, and so far it is only +1% more. So it's possible, if April's correction is an ABC movement, that we see another, larger seven-wave crash structure get printed here.
The near downside target would probably be 49.5k. I have the base of a macro channel down at that level, but a further seven-wave crash structure to 46 couldn't be discounted.
It's also possible that BTC breaks its current bear flag to the upside.
It's frustrating to have to live and trade with so much uncertainty. But it's good always to be aware of different scenarios. Awareness is the only way to manage risk.
I'm not saying BTC's downside movement will continue. 53 could still be the base, mirroring the same sequence that started the April correction. But: at the macro, April *should* be a deeper correction (in percentage value) than February, and so far it is only +1% more. So it's possible, if April's correction is an ABC movement, that we see another, larger seven-wave crash structure get printed here.
The near downside target would probably be 49.5k. I have the base of a macro channel down at that level, but a further seven-wave crash structure to 46 couldn't be discounted.
It's also possible that BTC breaks its current bear flag to the upside.
It's frustrating to have to live and trade with so much uncertainty. But it's good always to be aware of different scenarios. Awareness is the only way to manage risk.
Comment:
(To illustrate the fractal nature of the seven-wave crash structure, within that ellipse there is also a seven-wave crash structure)
Comment:
05 May 2021 13:33:34: To simplify it, two scenarios:
Comment:
05 May 2021 13:35:44: 56 does look like a possible breakout point on the 4hr Ichimoku cloud. Any spike in exchange inflows might indicate which way market makers want this to play out.
Comment:
05 May 2021 16:04:58: Encouraging, but I want to see 57.8, or even 59.
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