Bitcoin Fractals in Sea Foam on the Descending Channels

usually fractals* in trading seem to look cool and funny... until they are fulfilled ))

*** in my understanding,
a fractal is a repeating graphic pattern that does not belong to official trading patterns due to its rare occurrence and uncharacteristic, individual appearance...
imho ))

Note

update on BTC:

the main version remains,
now with the adjustment:

price made Double-Top -
Double Top is bearish pattern -
corresponding to the earlier proposed level of $42,479.0
$39231.0 is added ...

Note

second update on BTC - January 6, 2022

the initial version of the Short, with adjustments on December 25, is retained ...

after the Triple Top at $51860.0, the bitcoin price broke through the bottom of the flat zone and made my first target - $42479.0 ...

now we have 3 levels,
from which Long is possible:
-) 42479.0 - OB level, Order Block
-) 40891.0 - Double-Bottom level
-) 39231.0 - False Breakout level

... for me the priority is because the level of the 5th Elliott wave is in this zone ... but -

-) ... it's no secret that sometimes (it's not predictable, but supposed) ...

... if after the 5th wave there is a correctional ABC (ABC), then often the level (B) can overlap the level of the 5th wave ... in this case, even below

Note

...

Note

Update on BTC:
how about next - 4th repetition of Short Fractal

Note

...or

BTC/USD, 4H — Cup with Handle pattern under formation,

to complete the pattern, the price must break through the level of $44334, return to the retest — only then the pattern will be considered formed

and it will be possible to look for the entrance to Long ...

Note

👍👍

x3-pa3

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.

x3-pa3