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Magnet

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
Judging the trend with the CPR BTC bitcoinWhat you see before you is the central pivot range. otherwise known as the CPR. these levels are plotted determining the previous time frames on the start of a new timframe. The three timeframes we see here our the daily levels. the weekly levels. and the monthly levels. These levels are static no matter the timeframe of your candles sticks so I just put them at a timeframe that makes them visible. How can it be used? Well as you can see. when trending up and when it is likely to trend up the next cpr levels are plotted at a higher value. because price is the auction. that is what is important. You can see from the daily cpr we have been plotting lower values and down trending. The weekly levels have been plotting higher value until these weekly values and we are currently facing the prospect of turning that one into a new higher or lower value over this week. and the monthly levels have been in and still are in a uptrending higher value relationship. What to do with this information? Other than judging the trend you will notice. Nearly all of the time. When a new timeframe opens and price is far from the new levels... WE GO AND REVERT TO THE CPR. I put this part in caps because you truly ought to consider the prospects and value of knowing this information. as with enough time and experience it can allow you to trade both directions with confidence and even plot the next time frames levels to be prepared for reversal or re entry. The purple pivot lines also represent the place where you can buy the dips in an uptrend. and sell the rips in a downtrend. Just be aware and patient for them. When untested. it is a magnet pulling you to it. When tested and held or lost it is a magnet pushing you away. Very valuable tool
COINBASE:BTCUSD
by Gunslinger2005
2
Warning for BTC bitcoin. Weekly pivotITs getting near that time. when the week is soon to close and once again we have another steep developing weekly pivot which along with the monthly pivots have been regulary been getting struck on and around the close of the timeframe. Ths current one is coming in around 53k area. it could be brought higher or lower with new price action before weekly close. it is something to be aware of if trying to set of for a nice reversion retracement. or if you just want to buy the dip you have an idea where that is likely to be.
by Gunslinger2005
1
BTC long targets and retracement potentialbased. on camarilla pivots on the monthly levels. if BTC holds the weekly breakout upside h4 pivot at 51.9 then I see it is fairly possible it strikes 55 and maybe monthly H6. keep in mind btc is already 7k ahead of its next developing monthly pivot.... and that in the last 37 months only were there 2 where price did not revert to its new monthly level... yet still made large moves near it. so possible very large move to the upside and downside are at play. one notable thing bulls have here is that there are not yet any weekly or monthly magnets holding them back.. and also 2day hidden bull divergence
Long
by Gunslinger2005
Hard correction for btc in coming days. but from where?The weekly pivot like the monthly pivot once plotted has a high frequency of being tested. Even if that is a flash crash to the level. Currently, that retrace sitting at around the 37k at this moment. So a couple things could happen We start correcting early today and tomorrow. This is more bearish because the level is not locked in and the developing weekly pivot will get lower with the price and end up being lower than 37k We go sideways and then correct to about that area (too easy) We pump more before weekly close and potentially correct (the same amount) but from a higher value to a higher developing pivot. So watching what btc does in the next day in the half will be pretty telling. Remember the levels are not locked in until the weekly closes
by Gunslinger2005