To complete blue box - my fractal tracking idea, I need bitcoin to complete fractal high. I'm surprised did not complete fractal high earlier. Hope global market trade wars aren't impacting. Have removed earlier white diagonal line as has no value till we've had a fractal high followed by a low.
Comment:
Is this going to be the first month since January without fractal highs or lows within the first six days - caution Y/N?
Comment:
Waiting to update bullish outlook with some big volume move or confirmation of fractal high which should happen at close today 5th June. I've cautiously added some downward sloping diagonal trend lines as I think they will have greater significance now the fractal high that I was waiting for is close to being confirmed. Any move above those diagonal tend lines should also confirm a fractal low beneath (based on last couple of pattern stats). I've also added some fib, retracements as a close above them would now also add significance. Will include above in my update.
Comment:
Fib. retracements mentioned above mean those created between H. $8,644 and L. $7,040 i.e. 62, 50, 38.
Comment:
Market highs are so close to a number of downward trend lines that if the Williams Fractal high is confirmed today it would not take much of a rise to trigger them all off, and maybe some big volume too. Otherwise there is no reason why market can't keep going on down till its found good enough support to form a Williams Fractal low, and then take on the downward trend lines.
Comment:
In my comment June 3rd I mentioned "Is this going to be the first month since January without fractal highs or lows within the first six days - caution Y/N?" well today is the last day for making the lowest low, and then rising to confirm the Williams Fractal low if the one made yesterday June 5th was not good enough.