#bitcoin bulls still in with a chance before stoch oversold Y/N
Day chart - Williams Fractals not signalling anything yet. Stoch crossed 80 yesterday but couldn't hold up till end of day. MACD Histogram not turned down yet. Unless price starts taking out my stops or I'm in time to catch a signal on the 2 hour chart it still looks like price could have some energy left.
Purple verticals in MACD histogram denote histogram rises or drops in first 11 days of month (it looks like to confirm a high and there can be more than one the MACD histogram must drop same day or after, and vice versa). Purple verticals in Stoch denote highest or lowest price in first eleven days.
Horizontal zone on chart for each month denotes first days volatility extended to 11 days. Grey squares on chart denote volatility of last 11 days of month. Green squares denote fractal patterns of interest to last 11 days of month. Light blue diagonals denote fractals of interest prior to begining of following month. Yellow triangles in first 11 days of month just there to show if reversals occured with just one or two peaks or troughs.
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Purple verticals in MACD histogram denote histogram rises or drops in first 11 days of month (it looks like to confirm a high and there can be more than one the MACD histogram must drop same day or after, and vice versa). Purple verticals in Stoch denote highest or lowest price in first eleven days.
Horizontal zone on chart for each month denotes first days volatility extended to 11 days. Grey squares on chart denote volatility of last 11 days of month. Green squares denote fractal patterns of interest to last 11 days of month. Light blue diagonals denote fractals of interest prior to begining of following month. Yellow triangles in first 11 days of month just there to show if reversals occured with just one or two peaks or troughs.
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Comment:
Market just took out fractal low $6,525 where previously had said I would review and $6,439 was a stop and $6,280 think to go short. Market did a high yesterday and on the day chart MACD histogram looks like it may close lower today than yesterday, and maybe Stoch won't close over 80 with a new high this time.
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Comment:
Market bearish. MACD histogram on the day chart closed lower after previous days high. Everything on 2 hour looking bearish can't see upward drivers. If Stoch goes to 80 on the day chart IT will be harder NOW to break new highs.
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Comment:
Copy of my most recent publish post
#crypto #bitcoin sell (update) Y/N
On the day chart - We had a high followed by MACD histogram the next day falling/dropping. Stoch may yet reach 80 but I believe high is done and too risky now for some to play bull. I myself would rather miss out.
If we got a close on the day chart above $6,617.2 (July 3rd open) I could review short but at the moment reaching that looks doubtful.
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#crypto #bitcoin sell (update) Y/N
On the day chart - We had a high followed by MACD histogram the next day falling/dropping. Stoch may yet reach 80 but I believe high is done and too risky now for some to play bull. I myself would rather miss out.
If we got a close on the day chart above $6,617.2 (July 3rd open) I could review short but at the moment reaching that looks doubtful.
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Comment:
COPY OF MY UPDATE ON DAY CHART POSTS: "Right. Here we go with an update. July 7th not only did we finally get the Stoch over 80 but also a new high. Some people are going to scream Double Top, Double Top - been getting them all year, and sign of next leg down, sell, sell, sell. Well, we'll see. Price is definitely at a pivotal stage. We'll see if today produces a bearish engulfing pattern that touches all the way back to say $6,470.5. Need to observe how the rest of today 8th July goes"
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Comment:
If market is going higher, then the only positive I can see using my previous observations is that on July 3rd got a red candle and MACD Histogram went higher. First close above or below such a candle (the reverse would be a green candle followed by MACD Histogram going lower) can be used as a directional signal. That happened yesterday on July 7th.
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Comment:
We've now also got same signal set up yesterday July 8th as July 3rd - red candle and MACD Histogram went higher. First close, therefore, above or below such a candle is one of the observations I use as a directional signal (but can reverse later as well).
Comment:
We had another high followed by MACD histogram the next day down. Stoch has also reached 80 plus. Unless, therefore, market is going to head higher it is now ripe for sell off.
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Comment:
Update on comment above:
First close below the key candle explained above was down. So now that signal is bearish.
Yesterday was another key day for my work as it was the same distance from the Williams Fractal high of July 4th, as the distance between the fractal high of July 4th and the fractal low of June 29th. The last key day was July 3rd. So I'm now going to create a breakout zone on the chart with a high of $6,820 made July 9th and a low of $6,470.5 made July 3rd. Could use high of July 7th as well.
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First close below the key candle explained above was down. So now that signal is bearish.
Yesterday was another key day for my work as it was the same distance from the Williams Fractal high of July 4th, as the distance between the fractal high of July 4th and the fractal low of June 29th. The last key day was July 3rd. So I'm now going to create a breakout zone on the chart with a high of $6,820 made July 9th and a low of $6,470.5 made July 3rd. Could use high of July 7th as well.
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Comment:
Check this out. Take a Williams Fractal high and then note the days after when you get both a red candle in bitcoin as well as gold. I think you'll find that this drop is not going to end with a low today but most likely tomorrow, and at most the day after
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Comment:
Above chart shows consecutive low Williams Fractal patterns. I've just updated my other post showing consecutive high Williams Fractal patterns with the following:-
My analysis done using the chart of gold that we would see a lower low yesterday July 11th did not work but we now have the MACD confirmed below zero. Could this be the first time we see a fractal low below the pink square and not spiking a lower low than the previous? Would that then confirm a break in this patterns stat? Time will soon tell.
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My analysis done using the chart of gold that we would see a lower low yesterday July 11th did not work but we now have the MACD confirmed below zero. Could this be the first time we see a fractal low below the pink square and not spiking a lower low than the previous? Would that then confirm a break in this patterns stat? Time will soon tell.
NOT ADVICE ALL STANDARD DISCLAIMERS APPLY. DO TOUR OWN RESEARCH.
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.