BTCUSD Weekly Inflection pointWhat I have here are a bunch of momentum channels piled on each other on the keltner channel oscillator. (weekly light blue, daily green, 3hr light purple) I didn't bother hiding lines from the diff time frames, which helps put into perspective each zone in accordance to the keltner channel TF price is in. IE on the weekly we're above the KC Mid Line. Same with each TF all the way to the 1 Hour where we're consolidating. A shift on the 1 hour makes for a potential shift on the 3 hour, and judging by our position in the relative channels on the various time frames I expect consolidation on the 3 hour with the potential to consolidate on the daily and weekly.
This is what I call an inflection point.
Weekly:
Daily:
3 Hour:
Here is a previous chart with a daily inflection point:
Which direction it goes on the inflection point is a guess, unless watching every timeframe to see the inflection points on the lower TF's develope in real time. Momentum shifts mark a point where momentum consolidates; from which it could break out or break down.
When I start to see shifts on the smaller time frames, they tend to consolidate, and push thier final peaks of emotion (price peaks) until the larger time frames develope a shift and consolidates as well.
My first chart uses a weekly inflection point/momentum shift and the keltner channel to determine that price would drop to 20k from 60k...
