2 hour Bear Flag after the bounce off of the .382 (64.9 -28.6K Retracement). Resistance at the 30 min 8 EMA. The Pattern Break Ruler is meant to measure the strength of the break and is not predictive.
Are we repeating previous run? ending with a diamond top? Indicating a retrace to 37k. - Goodluck
This is the reference chart for the 3D charts provided previously. The reaction to the midline pops out as the larger Daily Diamond has come into focus. Diamonds are volatility machines, designed for fake-outs and dramatic reversals. Conventional wisdom suggests waiting for a clear break and backtest of the Dart boundaries for a play. Time to take some time...
AMC Support Trendline held. Dip has been bought! Let's rip from here!
Overtaking the 2 hour UBB as price takes a second run at the range .5. Looking for a reaction here.
After the Bear Flag confirmation BTC has recovered to test the Diamond bound with resistance at the 2 Hour UBB
BTC Price is organized back up to the 2 hour 8 EMA. Working through a 2 hour Bear Flag.
Supported by the 4 hour LBB; BTC is working on regaining the 5 min 50 SMA as it slows down into EQ.
This is pretty self explanatory with a resistance at play along with two reversal patterns in the diamond and H&S which makes me believe that we're to see a correction. Very volatile at the moment so this could shoot hard in either side.
Testing the Weekly 8 EMA support as BTC looks for a Higher Low. The 2 hour frame shows a Confirmed Inverse H&S that met quick resistance at the 2 hour MBB.
The Weekly MBB is potential support below near 42000. The next resistance is above at the Weekly 8 EMA. New ranges developing across asset classes.
Using the last move to define the Fib Ruler parameters; BTC is testing the .618 Zone. The measured move is the Higher Low at 29.3 K to the Lower High at 52.9K.
It seems to me now that Bitcoin is undergoing an even bigger fractal than I originally thought. These are based on a diamond formation (which is bearish in a majority of circumstances) combined with a very similar patterns of peaks and troughs on the run-up to the diamond form. Multiple options for how to play this. I'm considering attempting to play short at...
Time to go back to the drawing board as the NFP miss will inspire a new narrative going into the September Quad Witching. The rotation between IWM and QQQ intraday will be on watch in concert with the 10 year bond price.
Larger 2 Hour Pennant formed by Twin Diamonds over the course of the week. Diamond #1, fueled by the ADP miss, proved to be a continuation of the uptrend. Diamonds serve as both continuation and reversal patterns. NAS with support at the 2 hour 50 SMA and Resistance at the 2 hour MBB.
SPX found support at the 2 hour LBB while NAS has lost the MBB. The Lower High off Nas' UBB resistance after the ATH prompted a short frame consolidation. Price has found the middle of the Diamond Range as we approach NFP eve.
The Twin Diamond completed 38.2% of it's Break Target. The 8 Hour H&S neckline was rejected bear in the AM, then a pivot higher into a Higher Low. The second chance at the neckline netted a move to the upside. BTC found Resistance at the 4 Hour UBB.
Found resistance at the 2 Hour UBB; achieved 35% of the Break Target To Date.