WHITE: MONTHLY
RED: DAILY
PINK: WEEKLY
BLUE: HOURLY
GREEN: 4 HOUR
DASHED: HOLD
DOTTED: ORIGIN
This is mostly just showing some TA I have done on BTC,
today BTC broke its ladder and attacked the daily break level indicating a further move down, if it goes this route I think the monthly trend is a prime suspect to stop it in its tracks, the giant wick we had awhile ago makes all the levels under the daily break tested so there is nothing to stop it
HOWEVER, there is some heavy support BTC is getting from this weekly up trend its riding
Personally, I am suspecting a move down to its monthly level but only time will tell.
If BTC wants to move up its needs to do a lot of things, currently its laddering down and has been for a long time now, it needs to break that ladder
it currently has 2 hourly and 1 -- 4 hour origin levels above it right now and a daily origin a weekly downtrend and another daily down trend a bit higher then that
locally, to even break up to the higher levels it needs to break its ladder and start creating an accumulation cycle off this weekly up trend.
It can go all the way up to its greediest inverse hold inside its move but if it never breaks its ladder it will go down.
thats about it.
RED: DAILY
PINK: WEEKLY
BLUE: HOURLY
GREEN: 4 HOUR
DASHED: HOLD
DOTTED: ORIGIN
This is mostly just showing some TA I have done on BTC,
today BTC broke its ladder and attacked the daily break level indicating a further move down, if it goes this route I think the monthly trend is a prime suspect to stop it in its tracks, the giant wick we had awhile ago makes all the levels under the daily break tested so there is nothing to stop it
HOWEVER, there is some heavy support BTC is getting from this weekly up trend its riding
Personally, I am suspecting a move down to its monthly level but only time will tell.
If BTC wants to move up its needs to do a lot of things, currently its laddering down and has been for a long time now, it needs to break that ladder
it currently has 2 hourly and 1 -- 4 hour origin levels above it right now and a daily origin a weekly downtrend and another daily down trend a bit higher then that
locally, to even break up to the higher levels it needs to break its ladder and start creating an accumulation cycle off this weekly up trend.
It can go all the way up to its greediest inverse hold inside its move but if it never breaks its ladder it will go down.
thats about it.