#Bitcoin Big Picture Williams Fractal strategic opportunities
Big Picture chart showing Williams Fractal pattern and strategic opportunities using 50% point within each box construct in big scale.
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$6,967.4 is now a seriously important level to crack otherwise its short the market time. You can back test strategy yourselves by looking back in the chart for same coloured squares.
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Have published a mash up of this chart in daily bars.
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Last weekends volatility I make was $791.3 c.11%.
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Like previous post on 2 hour chart hey it's the weekend stupid - weird and wacky stuff can happen. Anyway here's my take on the 4 hour chart which will soon be completing one of those magic William Fractal boxes. Will prices complete the outer box casing below 50% of the new box or above? My feeling is below but then it's the weekend.
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See my posting here "More Big Picture Williams Fractals Mashed Into Daily Bars" for more weekend update.
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Rising wedges don't always work but I created one from the one minute chart, and on the 4 hour chart the top line would pass through highs of $6,900 and $7,039, and, bottom line through $6,520.1 and $6,782.8. A short or just weekend mirage.
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Number of chart patterns going on if the rising wedge doesn't work than price could break through diagonal trend line and could head up towards $7,509.7 to try and form a well known Bitcoin double top before heading down again. Next weeks volatile global markets to factor in as well.
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Still waiting for developing Williams Fractal to complete magic box. We now have an extended white box with three arrows facing downwards. $6,790.1 is now the key 50% support area and will continue to rise until another Williams Fractal arrow has been confirmed facing upwards
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Looking at the mashed up version of this chart, when the last double top formed there doesn't appear to have been any Williams fractals preceding to make the market sweat getting there. Will be interesting to see what happens here.
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Another interesting observation. I don't have any double white boxes hugging each other on my chart but by the looks of it when you have a position like this either above or below the middle bollinger line and 50% point it's kiss bears or bulls goodbye should price break through that middle and 50% price point (or if you like susequently does that and breaks out the box). That 50% price point (trench) took more than 20hrs of hard work (digging) how long will it hold?
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Going through a diagonal trend line sideways is flipping cheating. Weekend zombies.
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Looks like trench digging at $6,790.1 payed off. Market also dicided not to go though diagonal trend line lying on its back. Heading for potential Double Top next or smaller?