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Camarilla Pivot Points

bitcoin Btc daily outlookThese are the monthly camarilla pivot points. and the white lines are btc logametric growth curves. At first glance on the pivots it looks like 80k 70k or 80k might be next. However I do want to pount out this daily channel which has been respected for some time. As well as we have a daily pivot developing tomorrow 2k+ lower and a weekly pivot developing 4k lower and those newly developed points are high frequency magnet reversion points. As well as our next log growth level around 64k. So I just want to show this outlook out in the art of staying cautious and level headed.
COINBASE:BTCUSD
by Gunslinger2005
3
BTC bitcoin weekly retracement warningbeing about 4k above the developing weekly pivot which recieves price action as a magnet would nearly every time price opens far away from it... I just wanted to post this so that people do not get too ahead of themselves with the weekend price action. It is a common occurance and that being said I would also like to note that there is still another full day+ when price can be brought higher or lower and thus the developing weekly pivot (i.e the reversion magnet) could be plotted to be higher or lower than here. Yet no matter if we move higher or lower on sundays price action if it is upwards the retracement of this size will "still" happen, except it will just be from a higher point. Often time when it is this ahead of the developing pivot it can happen even prematurely on sunday itself in anticipation for such price reversions. No matter how you handle it,... whether trying to short to the coming pivot or waiting to buy the dip on it. It is good to be aware of it
COINBASE:BTCUSD
by Gunslinger2005
6
BTC 2day chart and more downside potentially shownhere I have the weekly camarilla pivot points in the 2 day chart. and the next levels. and the donchian channel. just as the 4day chart I previously posted it has a similiar look and candle count/formation. if it plays out in any similiar way I would expect this 2/3day closure to bring moves to the downside to touch (at least) our coming weekly L3/4 levels or/and the central donchian channel level. oscillation comparison also clearly shows there is room for turndown from here and the rest of the market is ahead of the game on getting healthy corrections. That being said. be safe. and it is better to short against spot holdings so as to reduce you risk of either price going up or going down. I also want to point out the CPR central pivot range. (weekly levels. purple line) the reason why it holds here is because that level essential acts as a magnet. especially when new timeframes open price gets pulled to that level. It is sitting here and once the new weely opens and the old one closes it cn be seen that it is only estimated to be coming in around the level we are at. It is possible that we close this weekly and then price immediatly touchs it and then resolves in order to ensure the lack of magnet retrace from a potential up or down move prior to close
COINBASE:BTCUSDShort
by Gunslinger2005