Started drawing this during the 6k inverse head and shoulder area. Looks like it's following the double gann fan lines perfectly.
Components:
1. Gann fan A projected from 20k -- 8/1 fits perfectly at 14k top we had during the June 2019 bull rally.
2. Gann fan B projected from 3k bottom-ish. -- 4/1 line seems to be the support.
My views:
Green triangle area is now in play. Currently playing around Gann fan B's 3/1 resistance line.
Red triangle will hopefully be left behind, if price continues to hold upwards until mid-Feb 2020.
Yellow polygon is likely to be played, if it breaks down the 4/1 support. (Let's just pray that it won't because it's a critical level for me whether we're going further downwards or upwards in this area).
Red line the intersection between both Gann fans' similar angle lines.
We will enter another bull market once price starts going out of the green area and Gann fan 8/1 line.
Components:
1. Gann fan A projected from 20k -- 8/1 fits perfectly at 14k top we had during the June 2019 bull rally.
2. Gann fan B projected from 3k bottom-ish. -- 4/1 line seems to be the support.
My views:
Green triangle area is now in play. Currently playing around Gann fan B's 3/1 resistance line.
Red triangle will hopefully be left behind, if price continues to hold upwards until mid-Feb 2020.
Yellow polygon is likely to be played, if it breaks down the 4/1 support. (Let's just pray that it won't because it's a critical level for me whether we're going further downwards or upwards in this area).
Red line the intersection between both Gann fans' similar angle lines.
We will enter another bull market once price starts going out of the green area and Gann fan 8/1 line.
Comment:
added more meme lines from 14k down to 6k
Comment:
Bearish territory. This is not good.
Comment:
Below my area of interest.
Comment:
Mingling around the red trendline. Uncertainty as always.
Comment:
Resistance trendline hit on 4/1 gann
Comment:
Entering yellow area. Year open as shown in red line @ 7163
Comment:
Yes, we broke the meme triangle.