BTC
Nice 2.5% bounce so far today.
And now a choppy and shallow descending channel is printing.
Patterns can morph, but a high time frame pump is more likely to come from shallow descending price action than ascending price action.
So this is looking positive here.
For your notebook; this area has now printed bullish Pattern Separation.
This term comes from Pure Price Action.
- The weaker ascending channel leads to a bounce that becomes a bull trap shakeout.
- The bounce then slumps to print a bearish engulf.
- A stronger descending channel prints following the slump.
This signals that from the recovery bounce low on 5th August, that momentum is shifting from bearish to bullish.
This doesn't prove that Bitcoin will move directly into a pump and sometimes these patterns switch back.
But this is positive and exactly what we want to see for the bullish case 👍.
Not advice
Nice 2.5% bounce so far today.
And now a choppy and shallow descending channel is printing.
Patterns can morph, but a high time frame pump is more likely to come from shallow descending price action than ascending price action.
So this is looking positive here.
For your notebook; this area has now printed bullish Pattern Separation.
This term comes from Pure Price Action.
- The weaker ascending channel leads to a bounce that becomes a bull trap shakeout.
- The bounce then slumps to print a bearish engulf.
- A stronger descending channel prints following the slump.
This signals that from the recovery bounce low on 5th August, that momentum is shifting from bearish to bullish.
This doesn't prove that Bitcoin will move directly into a pump and sometimes these patterns switch back.
But this is positive and exactly what we want to see for the bullish case 👍.
Not advice
Zlecenie aktywne
"BOOST" if you like this.Uwaga
These lower time frame fractals are like snowflakes and break down easily.Here the cause (pressure) built up by the descending channel has been released into another pop & rolling over.
From the perspective of Wyckoff these are Creeks and Inverted Creeks that lead an impulse in the regressive direction before the dominant trend resumes.
And so
- Ascending channels will often lead to a bounce before a higher time frame dump
and
-Descending channels will often lead to dump before a higher time frame bounce.
Ultimately, descending channels build bullish cause.
And ascending channels build bearish cause.
So in the end this looks like it will get to the Golden Window of 0.618 - 0.786 as described in my other linked thread.
And from the perspective of ratio this is a common path to follow a recovery bounce 👍.
Uwaga
Very nice bounce today.Uwaga
BTCBitcoin is slumping today but remember that the 0.618 retracement was always likely.
There is a reasonable chance that will will see another instance of Pattern Separation here.
So as the ascending channel led to a pop before a slump...
The descending channel may lead to a slump before a pop.
And that may be to pierce below the 0.618 and into the retracement Golden Window (0.618 - 0.786).
Nothing much happening here other than rebalancing following the selling climax of a long correction.
After this, Bitcoin may be ready for to begin the climb into next wave up I think 🧐.
Uwaga
Here we are, and we may see 8,9,10 following the Creek (see Wyckoff image above) Uwaga
Whenever the comments section trolls start making predictions that is usually as sing that a reversal is near.In the previous selling climax, a hard dump followed that reversed at the 0.786, and that would equate to 52K in this area.
This is on my other linked idea btw for anyone that has the nous to read multiple threads
Zlecenie aktywne
Up to 
64K post rate cut.RIP bears 😸☠️.
Your FA guru can't read a chart💭
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I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
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Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.