15 APR 20
One thing I learned a long time ago has to do with how helpful my tools are. With me, one of the first requirements is how flexible are its features. That’s a terrific feature I find helpful when using the Williams Alligator as in this drawing. My own color set shows me a more vivid and definable picture of the alligator. From its red lips ascending above its white teeth to its yellow underbelly, I can speculate, perhaps even visualize where Bitcoin might go next.
Plus, when you’re searching for the end of an Elliott Correction Wave the other inputs available with the Williams Alligator include fine tuning for tracking offsets. I like to keep the offset of the gators teeth at 1 chomp away with the jaw and lips out of the way at -1 each. Plus I can also adjust the moving averages the gator swims by. On this chart the length of the jaw, teeth and lips are 14, 21 and 28 respectfully.
So that’s how the tool is made up, let’s look at how the tool is used. First, it’s not something I would leave on; I load it when I’d like to take a view. I find it most helpful as a sort of snapshot of a certain day in time. You might notice that in bullish cycles like from 14 Jan 20 to 14 Feb 20 that the Alligator was upside down. His yellow belly was on top and his red lips were on the bottom. He was at ease, swimming on his back and letting his last meal digest. Bitcoin value continued to increase. It had been a long time since he had opened his jaw and sliced off a Bit of Bitcoin value.
And then it happened. On 7 Mar 20 the gator flipped over in just 1 day. One day is all it takes for an alligator to wake up. For two weeks it rolled and churned and by 20 Mar 20 the lips were back on top, the yellow belly on the bottom and the teeth searching for any Bitcoin value it can devour.
“So what’s that have to do with where we’re at today” you ask? If you look at the alligator pattern between 22 Sep 19 and 11 Oct 19 you might notice the similarities to the pattern between 08 Mar 20 and 15 Apr 20. Also notice that after 22 Sept 19 Bitcoin’s value dropped 62.54% to it’s most recent low overshooting the Fibonacci retracement by 1.04% In case you did have to ask.
Happy Trading Everyone.
Thank you for letting me shares my Bitcoin Study. I hope it helps you see the path forward in all your trades.
Remember. This is not trading advice. It is for Educational Purposes only. Follow me if you wish. I do not use Twitter or Face Book. Please engage the like button and add your comments below.
Charts are a reflection of Human Behavior
Humans act in similar ways during periods of high stress
Humans act in similar ways when they are fearful of being left out
Humans act in similar ways during a bottoming process
Humans act in similar ways at the early stages of a new bull market
