Felix000

#Bitcoin to make fractal high and then retest lows Y/N

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Here is my day chart update. I was waiting for the consecutive down fractal to complete to form my blue box. Now all I need is confirmation of a fractal high and that is the blue box casing complete. Once the market confirms the next fractal high I expect it to head back down again to make a fractal low before convincingly crossing the white downward sloping trend line . That's how I've seen it work several times before. I have drawn white trend lines only from where my turquoise (light blue) zones appear (these zones are created whenever two consecutive same coloured vertical bars appear in the MACD chart). Will be updating my other daily chart for more developing insights.

NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
Comment: Have counted how many days after the consecutive low or high fractal does it take to make the reverse fractal and its up to six days (based on the coloured boxes in my chart since Dec 2017 high). Obviously if my statistics went further back it could probably be more. Will todays high Friday June 1st be that high or are we going to have to wait longer?
Comment: Interesting observation in recent times that is that when the inner box is an even number the outside fractals on both sides are often even too. Weird.
Comment: Buy every new day high sell every new low or intra day technical like inverse H & S for bulls and wedge for bears, as still waiting for the fractal high followed by fractal low. I'm also thinking that the white diagonal trend line on my chart may be unreliable for comparing with previous. I'm bullish about next week, so a bias entering into my thinking. NOT ADVICE ALL STANDARD DISCLAIMERS APPLY DO YOU OWN RESEARCH
Comment: Here is the problem with the white diagonal trend line which I've drawn - it appears to need a fractal low now in order to work, and we have not seen one yet. That's another reason why I'm thinking of discounting it. I would need hundreds of my blue fractal boxes to analyse how better this one may work out. The one between 21 Oct to 5th Nov last year if repeated would see the high fractal reaching near $10,000 before retracing but the set up of that blue box was different to this one.
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