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...
The last 9/10 times Bitcoin dumped while mercury retrograde. Lets see what happens this time... I think Gann 8x1 Level and other things will stop- the price at about 6000-6400ish.
The Levels/ cycles working like stones skipping over the water. The more often it hits the surface, the higher is the probability that the stone will dive down...
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
So here we go. This cycle looks like it fits. based on my Pi levels. working since month on this and slowly peaces come together...
i see that we hit interesting Gann Levels and the probability is high that we make a retrace into the 50% fib are and than move up to the brickwall of resistance in 5700 area