Is this the Wyckoff Pattern or something else? Whatever i see i saw often in the Bitcoin chart that there is for a specific time a recurring pattern. And it gets smaller and smaller. Than big again... What i am talking about are fractals. I dont know if i see it because it is my trading style and i see other traders trading like me. Or are that the algos?? Idk....
Many people think that we could expect an up move on DXY because of short covering (40% open interest of large specs on short positions).
But on the big run I see still a potential leg down to the 61.8 Fibonacci Level here
Since a while i like to use sine waves to figure out repetitions on cycles. Specially for pivot points. Specially Bitcoin is walking very harmonic (if you are familiar with Harmonic trading).
But the market is the last arbiter of the price... But my analysis, that we will see the 6400ish prices again and make there a H&S what would be the right shoulder of the...
I think i relvealed the Gann cycle data. So far so good. still working on it but the peaces of the puzzle slowly building a picture.
If you want to learn more about technical analysis (Gann and other value stuff) visit us on #TRI #Brianbeamish. Link pinned in my tweets