Hi All,
I have come across this idea\fractal based on a twitter account I follow and it has the potential or likelihood to play out.
In the past I have said that the ABC correction could take it to 10500 to 10800 and even 10200.
It is also possible even lower but before thinking that is the case, this green zone has the monthly support range and is likley a high demand zone.
The previous wicks to this zone (on the way up) have shown it to be the case.
I also have interest in that zone as well but how likely is it to get there. Hence this fractal needs to be factored in.
Take note of the DAILY chart and the RSI level, in red and compare it to the previous zone of accumulation.
Also the overall chart below where I state "In my opinion, there are 2 significant trend lines, one from the top (Parabolic head, over performance) and the other where I have it and hence why $12,400 was a strong resistance area."
What to look for?
On the 12 hrly or daily, after another 5 days, or more, we don't drop price and or if we see a bullish div. taking place, as well as possibly prior to the breakout, btc dominance moving
this could be a sign for the fractal to be true.
I think 2 weeks, if the price is not dropping, then this will be an accumulation zone.
Factor this in as well: When ever the majority look at a level to buy, the whales will likely not allow it to get there. This could be one such scenario.
I thought I'd share it and for you and I to be on our feet, not assuming anything.
All the best,
Cheers,
S.Sari
Bigger overview: Note the reason this can be an accumulation zone, it is underneath the sloping trend line of 3 years.
In my opinion, there are 2 significant trend lines, one from the top (Parabolic head, over performance) and the other where I have it and hence why $12,400 was a strong resistance area.
I have come across this idea\fractal based on a twitter account I follow and it has the potential or likelihood to play out.
In the past I have said that the ABC correction could take it to 10500 to 10800 and even 10200.
It is also possible even lower but before thinking that is the case, this green zone has the monthly support range and is likley a high demand zone.
The previous wicks to this zone (on the way up) have shown it to be the case.
I also have interest in that zone as well but how likely is it to get there. Hence this fractal needs to be factored in.
Take note of the DAILY chart and the RSI level, in red and compare it to the previous zone of accumulation.
Also the overall chart below where I state "In my opinion, there are 2 significant trend lines, one from the top (Parabolic head, over performance) and the other where I have it and hence why $12,400 was a strong resistance area."
What to look for?
On the 12 hrly or daily, after another 5 days, or more, we don't drop price and or if we see a bullish div. taking place, as well as possibly prior to the breakout, btc dominance moving
this could be a sign for the fractal to be true.
I think 2 weeks, if the price is not dropping, then this will be an accumulation zone.
Factor this in as well: When ever the majority look at a level to buy, the whales will likely not allow it to get there. This could be one such scenario.
I thought I'd share it and for you and I to be on our feet, not assuming anything.
All the best,
Cheers,
S.Sari
Bigger overview: Note the reason this can be an accumulation zone, it is underneath the sloping trend line of 3 years.
In my opinion, there are 2 significant trend lines, one from the top (Parabolic head, over performance) and the other where I have it and hence why $12,400 was a strong resistance area.
Comment:
CME chart and BTC price action
Comment:
next post is the continuation of this
Comment:
Previous post to this , I should have picked this up as I like to link my progressive calls
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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.
