BTC (Y19.P2.E25).v2.Macro.Observations.Bearish.Factural.E02
Continuing on with the MACRO observations, I revisited my previous Fractural and did some fib. measurements, to find confluences, with the following assumptions.
a) Last part of the 1st factural where it bounced 40% to hit 10.4K, the $400 to be ignored due to the exceptional circumstances of the pump, hitting the 0.618 to 0.65 fib extension level.
b) Applying the same method to the second factural, another descending triangle appears and which currently matches the first macro pattern to bounce and hit the 0.618 to 0.65 fib extension level, and not to go further than this high.
If we apply the same fib.extension within the bounds of its associated descending triangle as per the chart, we can see we have the next target as 6100 - 6200 range.
Even though this is very unlikely to happen, we are assuming the main thing is the price behavior will repeat again for the 2nd time.
Its also interesting to observe that the target for this range has many TA's stating that the bottom is likely to be low 6Ks (using the volume profile indicator\metrics)
I thought its worth sharing so people can ponder on it and come up with their own conclusions.
Previous post related to this item
Please give a thumbs up or a like if you agree or just appreciate the effort.
Regards,
S.Sari /CryptoProspa
a) Last part of the 1st factural where it bounced 40% to hit 10.4K, the $400 to be ignored due to the exceptional circumstances of the pump, hitting the 0.618 to 0.65 fib extension level.
b) Applying the same method to the second factural, another descending triangle appears and which currently matches the first macro pattern to bounce and hit the 0.618 to 0.65 fib extension level, and not to go further than this high.
If we apply the same fib.extension within the bounds of its associated descending triangle as per the chart, we can see we have the next target as 6100 - 6200 range.
Even though this is very unlikely to happen, we are assuming the main thing is the price behavior will repeat again for the 2nd time.
Its also interesting to observe that the target for this range has many TA's stating that the bottom is likely to be low 6Ks (using the volume profile indicator\metrics)
I thought its worth sharing so people can ponder on it and come up with their own conclusions.
Previous post related to this item
Please give a thumbs up or a like if you agree or just appreciate the effort.
Regards,
S.Sari /CryptoProspa
Discord: TradeToProspa
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
