First of all: This is just a possibility and should be seen as one. Don't base your trades on this idea! Price will fluctuate and may or may not follow its past. This is just something I found and wanted to share.
Dark blue lines: possible triangle
Purple lines: a small channel BTC LOVED in 2017
Light blue price line: BTC past performance from 2017-08-31 to 2018-02-06
You can find this particular fractal a lot in BTC on many different timeframes. We will experience a bull market that pushes BTC past 100k USD till the end of this year following a 6 month bear market. You could argue that the run to 100k is the result of an anticipated LN release and the bear market could be the realisation that LN can't fix everything. But that's just me guessing and trying to find some reasons.
You should definitely watch carefully if BTC breaks out of the (possible) triangle for confirmation.
Dark blue lines: possible triangle
Purple lines: a small channel BTC LOVED in 2017
Light blue price line: BTC past performance from 2017-08-31 to 2018-02-06
You can find this particular fractal a lot in BTC on many different timeframes. We will experience a bull market that pushes BTC past 100k USD till the end of this year following a 6 month bear market. You could argue that the run to 100k is the result of an anticipated LN release and the bear market could be the realisation that LN can't fix everything. But that's just me guessing and trying to find some reasons.
You should definitely watch carefully if BTC breaks out of the (possible) triangle for confirmation.
Comment:
The fractal works pretty well. We are still in the expected range with the expected price movement. Remember: Movements below or above the fractal are totally fine as long as the overall trend is intact.
Comment:
Slight deviation from the fractal. But this might be, how it plays out. 7k is reasonable.
Slight deviation from the fractal. But this might be, how it plays out. 7k is reasonable.
Comment:
We're on track. Reversal should be expected somewhere between $6900 and $7200 finishing the (possible) head of the inverse H&S helping BTC breaking out of the triangle.
Comment:
We almost met my target for the retrace with $7300. Above you can see two possibilities for the coming weeks. I expect the inverse H&S to play out with heavy resistance at the upper resistance of the triangle.
We almost met my target for the retrace with $7300. Above you can see two possibilities for the coming weeks. I expect the inverse H&S to play out with heavy resistance at the upper resistance of the triangle.
Comment:
Potential H&S invalidated. See possible reversal points above. ($7800, $7600, $7400) We're still under the daily 200MA. We need some movement asap.
Would turn short-term bearish when breaking through the lower resistance of blue line.
Would turn mid-term bearish when below $6900
5k would invalidate this idea.
Would turn short-term bullish when above 200MA ($9300 at the moment)
Would tun mid-term bullish when breaking out of the triangle to the upside
Potential H&S invalidated. See possible reversal points above. ($7800, $7600, $7400) We're still under the daily 200MA. We need some movement asap.
Would turn short-term bearish when breaking through the lower resistance of blue line.
Would turn mid-term bearish when below $6900
5k would invalidate this idea.
Would turn short-term bullish when above 200MA ($9300 at the moment)
Would tun mid-term bullish when breaking out of the triangle to the upside