Short

Bitcoin Fractals in Sea Foam on the Descending Channels

Updated

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

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