Insight again into how bitcoin -0.92% holding up. Three of the red horizontal lines relate to day opening/closing prices.
Waiting to update day chart with some big volume move or confirmation of fractal high which should happen at close today 5th June. I've cautiously added some downward sloping diagonal trend lines as I think they will have greater significance now the fractal high that I was waiting for is close to being confirmed. Any move above those diagonal trend lines should also confirm a fractal low beneath (based on last couple of pattern stats). I've also added some horizontal fib, retracements in turquoise (light blue) between H. $8,644 and L. $7,040 i.e. 62, 50, 38. as I think a close above them would add significance should the above happen.
NOT ADVICE ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH
Waiting to update day chart with some big volume move or confirmation of fractal high which should happen at close today 5th June. I've cautiously added some downward sloping diagonal trend lines as I think they will have greater significance now the fractal high that I was waiting for is close to being confirmed. Any move above those diagonal trend lines should also confirm a fractal low beneath (based on last couple of pattern stats). I've also added some horizontal fib, retracements in turquoise (light blue) between H. $8,644 and L. $7,040 i.e. 62, 50, 38. as I think a close above them would add significance should the above happen.
NOT ADVICE ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH
Comment:
For those seeing this chart on social media and not familiar with Trading View use the side scale to unlock the chart so you can move it around, and don't forget to click the blue arrow on the chart to get the latest bar updates. The day charts aren't so good when wanting to see a chart update because have to wait till next day.
Comment:
Regarding the above to move chart about you need to un-tick the 'auto scale'
Comment:
Then again the auto scale seems to work OK.
Comment:
Market highs are so close to a number of downward trend lines that if the Williams Fractal high is confirmed today it would not take much of a rise to trigger them all off, and maybe some big volume too. Otherwise there is no reason why market can't keep going on down till its found good enough support to form a Williams Fractal low, and then take on the downward trend lines.
Comment:
In my comment June 3rd I mentioned "Is this going to be the first month since January without fractal highs or lows within the first six days - caution Y/N?" well today is the last day for making the lowest low, and then rising to confirm the Williams Fractal low if the one made yesterday June 5th was not good enough.