Felix000
Short

More Big Picture Williams Fractals Mashed Into Daily Bars

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Interesting observation. I created two yellow bands for the two William Fractals mentioned in previous postings using the high and low and what's interesting for those who like counting is that price closes in and out of the bands between 4 to 9 days. I'd say the odds of Bitcoin             dropping out the box are increasing by the day. I've marked with two big fingers one interesting pattern where price failed to hold on to the 50% mark inside the bands. Blue up and down arrows relate to where on the 2 hour chart price touched upper or lower Bollinger Bands (see previous postings). Fib extensions relate to high low of Williams Fractals within the bars circled but on the 2 hour chart (see previous postings).
Comment: Here's an interesting thought for Bitcoin's usual weekend nonsense. Last weekends nonsense Bitcoin oscillated within a range of 11% or $791.3. If we take the start of the weekend low to be $6599.9 plus last weekends volatility and price could reach $7,391.2. The low before the weekend started was c $100 lower so say Bitcoin could reach between $7,291.2 and $7,391.2 based on last weekends volatility. Note the centre of the yellow range band is $7,367.6. To get there the price would also have to negotiate resistance from a diagonal trend line. I'd say there was more standing in the way in the form of resistance then last weekend but then hey it's the weekend stupid.
Comment: How much speed do you need on a weekend to crack a downward trend line, and can it be done moving sideways?
Comment: Here's another interesting thought that Bitcoin's price may be heading up to repeat a well known double top formation before heading down again. Then there is next weeks volatile global markets to negotiate........ plus crypto tax coming up.
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