Using Pivot Points for Reversal Entries
Updated
You can see the Ichimoku indicator lines in the chart.
The Bitcoin Daily Chart consists of two separate waves named in the image.
Each chart contains points that react to the price and reverse the trend.
To find these points you have to scroll these two lines. How to navigate these lines will be explained later.
Based on the scrolling performed, the X and Z points will be the two inverting points in this graph to move upwards.
The price is moving towards point X. Reaching this price will have a rapid upward movement to the target of 49990.
And from this price it quickly falls down again to collide with pointZ on wave B.
When it hits this point, it will climb to the top again and reach the target of 65,000.
Reaching 65,000 again, a rapid downward movement towards the starting point and lower
Based on the scrolling performed, point X and Z are two points
Reaching 65,000 again will have a rapid downward trend towards20,000.
These fluctuations will happen quickly and it is predicted that all the mentioned substances will be done in 2 to 3 weeks
- Tenkan-Sen, or Conversion Line, is the mid-point of the highest and lowest prices of an asset over the last nine periods. The Tenkan-Sen is part of a larger indicator called the Ichimoku Kinko Hyo, which shows potential support and resistance areas based on different timeframes.
- The Kijun-sen, or base line, is an indicator and important component of the Ichimoku Kinko Hyo method of technical analysis, which is also known as the Ichimoku cloud.
The Kijun-sen is the midpoint price of the last 26-periods, and therefore an indicator of short- to medium-term price momentum. The indicator aids in assessing the trend, and can also be useful for identifying trading opportunities when combined with the other components of the Ichimoku cloud.
The Bitcoin Daily Chart consists of two separate waves named in the image.
Each chart contains points that react to the price and reverse the trend.
To find these points you have to scroll these two lines. How to navigate these lines will be explained later.
Based on the scrolling performed, the X and Z points will be the two inverting points in this graph to move upwards.
The price is moving towards point X. Reaching this price will have a rapid upward movement to the target of 49990.
And from this price it quickly falls down again to collide with pointZ on wave B.
When it hits this point, it will climb to the top again and reach the target of 65,000.
Reaching 65,000 again, a rapid downward movement towards the starting point and lower
Based on the scrolling performed, point X and Z are two points
Reaching 65,000 again will have a rapid downward trend towards20,000.
These fluctuations will happen quickly and it is predicted that all the mentioned substances will be done in 2 to 3 weeks
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These fluctuations will happen quickly and it is predicted that all the mentioned substances will be done in 2 to 3 weeks FOR FIRST MOVE (31000 - 49990 - 31200)4 or 5 weeks FOR SECOND MOVE (31200 - 65000 - 31000)
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Complementary pointEach ascending wave begins to fall after reaching the ceiling. If the price returns to the starting point when it falls, a return uptrend to the previous level
Which is commonly referred to as a double top.
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