BitcoinShort
Fractal confirmation
I have wave 3 top of 3k and wave 5 top of 5k on top 2 charts. Notice the fractal pattern H & S tops with 1 & 2 corrective waves labeled. The argument can be made that its about to go up however if you look at small H & S pattern on wave 3 bottom compared to failed H & S pattern on wave 5 bottom you see the explosion from 3k to 4k failed to form the small H & S that sets up the larger H & S.
This leads me to then compare the 1 & 2 downtrends of wave 5 and I see fractal forming on line labeled 2 repeating itself in the line labeled 1. The bottom 2 charts are lines 1 & 2 separated to see the patterns closer. to me this says downtrend continues as the uptrend pattern has failed and the downtrend pattern has continued.
Pretty cool stuff if you ask me.
This leads me to then compare the 1 & 2 downtrends of wave 5 and I see fractal forming on line labeled 2 repeating itself in the line labeled 1. The bottom 2 charts are lines 1 & 2 separated to see the patterns closer. to me this says downtrend continues as the uptrend pattern has failed and the downtrend pattern has continued.
Pretty cool stuff if you ask me.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.