This is an update for one of my previous ideas .
I've posted several Gann-Square-based analyses for the BTC market, but I feel this one could be the best of those.
If BTC marks a new low at least on the daily timeframe, which I feel is likely, my Gann Square should underline 24.25k and 19k as primary, and Gann Fan does 23.4k and 22.1 as secondary.
But, most...
Combine a Renko Traditional 900 w/ a Gann Sq and found its possible we are heading back to 31000.. as well there is a firm support on 24200 if we can get it held it will shoot back to 30000 to 31000
The SP500 index, which is in a downtrend in the long term, tries the trend many times. If the trend is broken, it will target the next trend follower level of $4400. If it is rejected from the trend, it must hold on to the arc.
I post the geometry—no precise prediction.
Recently I've thought that if the perma-bulls go short on measuring sticks, someone must help them handle the long-term thing.
But this could also apply to perma-bears- what would you see?
BTC tried the Gann Square's arc and stagnated there for a while - the chart is developing precisely as we predicted .
After the black swan summons the dragon, a cypher (.786) or a shark (.886) pattern is expected next.
Usually, the chart rebounds approximately between 0.5 and 0.618, even when the consecutive pattern formation isn't inhibited.
However, we...
BTC has been rejected at the apparent resistance of the 25200 zone.
Gann Square, as applied, also implies that the buy-side liquidity above is hard to reach.
Moreover, a harmonic black swan pattern (black) has formed, which would trigger another potential bearish harmonic pattern - a dragon (red).
The bearish dragon's target would be 0.618 (20104) -0.786...
With a harmonic black swan's fluttering, BTC has broken the daily trendline (green) as the support, forming a red, bearish dragon pattern.
This price action is precisely what we predicted in our previous idea .
Please look at the related ideas for the further development expected to follow.
In my previous ideas, I examined the possibility of the daily BTC chart forming a double zigzag, WXY, of which an X-wave may be about to complete. This hypothesis has yet to be invalidated.
X-waves often become what Elliott called flat corrections- so let's check the characteristics of a flat correction. As the name implies, a flat corrective wave has ABC waves...
This is an alternative to my previous idea .
If 23k is a significant pivot, this reading will present a more convincing confluence.
I overlaid a Fibonacci Channel parallel to Gann Fan 8 x1 and horizontals tangent to the arc.
Difficult to adjust chart sizing in posting. Please scroll and expand the chart horizontally for the visibility of individual candles....
Gann Square, as applied, has exhibited surprisingly accurate S & R zones.
If this hypothetical mapping of potential pivot zones is still effective, BTCUSDT will challenge the next arc at around 25k, which is obviously a significant resistance zone.
From my personal experience, tangents to arcs, among other trendlines, often serve as S & R, at least for a short...
ETH is here.
I don't rule out the possibility of a further breakout, but I see a potential for a pullback, at least.
For those who hate arcs, look at the daily RSI (14), blue, in the indicator pane.
Gann Square and Arcs is a built-in drawing tool of TradingView for technical analysis.
Trollers will be immediately reported.
There is the market observation that the BTC price has already bottomed out.
True, the solid rebound for around 21500 was reminiscent of the start of a new uptrend.
If we are already in at least a short-term one, as the bulls would believe, expecting a retracement back to 0.618 (35712), 0.786 (41214), or even 0.886 (44489) level first is convincing.
Here,...
This is the sequel of our previous ideas in which we saw the arc having confined BTC within it and a 4H-timeframe bullish dragon .
BTC gained bullish momentum after getting out of the arcs' crosspoint, forming the LTF dragon pattern .
17200 resistance has already been touched, likely to be broken.
17600-17900 is another solid resistance zone. So we could...
![XAUUSD: XAUUSD [1H]](https://s3.tradingview.com/7/7Tku4buI_mid.png "XAUUSD [1H]")
