BTC and it's Geometry (current week)
BTC is currently grinding along/down it's Upper Weekly Geo Line (yellow descending arrow). So far, nothing alarming on either side (Bear or Bull) is happening...which has been good for many alts.
The two Pink Arrow sets are what I'm watching out for currently. If we lose this Upper Geo Line (and last week's EQ by default), I'd be looking for last month's EQ, 55.2k, to be tested, possibly/likely the Lower Weekly Geo Line as well (currently 53.5 or so, and descending).
The Blue Arrows are what current Geometry is suggesting, should we stay within our current range.
A closer look into this week's action shows we're at an important inflection point....
Monday: we put in a Bullish Engulfing, Running the prior lows before sending us higher.
Tuesday: we had a nice Bullish Thrust day, clearing liquidity above last week's High.
Wednesday: we took a nice dump, running Tuesday's Low, but finishing back towards the High of the Day. This is where it gets interesting.......
Thursday: we slowly grind out way down, creating an Inside Day, respecting Wednesday's Low.
Friday: we attempt to push up, but find ourselves back near the Lows at close, creating yet a SECOND Inside Day.
Today, Saturday....(Pink Oval) we find ourselves having WICKED the Friday Lows...but are (currently) respecting the Lower Daily Geo Line, Last Week's EQ, and Today's Projected Geo Low.
Bulls do not want to see action on the 1hr/4hr start closing, and worse, rejecting from these lines. Wicks are fine. But if we see closings/rejections....The Bearish Pink Arrows from the Macro image become a much larger likely path for BTC.
If we start grinding higher from here, regain the Upper Projected Weekly Geo (Dashed Orange), and possibly Yesterday's EQ (61.7k), the Bullish Pink Arrows scenario from the Macro image would be my go-to, until otherwise noted.
As always, good luck, have fun, and practice solid risk management!
The two Pink Arrow sets are what I'm watching out for currently. If we lose this Upper Geo Line (and last week's EQ by default), I'd be looking for last month's EQ, 55.2k, to be tested, possibly/likely the Lower Weekly Geo Line as well (currently 53.5 or so, and descending).
The Blue Arrows are what current Geometry is suggesting, should we stay within our current range.
A closer look into this week's action shows we're at an important inflection point....
Monday: we put in a Bullish Engulfing, Running the prior lows before sending us higher.
Tuesday: we had a nice Bullish Thrust day, clearing liquidity above last week's High.
Wednesday: we took a nice dump, running Tuesday's Low, but finishing back towards the High of the Day. This is where it gets interesting.......
Thursday: we slowly grind out way down, creating an Inside Day, respecting Wednesday's Low.
Friday: we attempt to push up, but find ourselves back near the Lows at close, creating yet a SECOND Inside Day.
Today, Saturday....(Pink Oval) we find ourselves having WICKED the Friday Lows...but are (currently) respecting the Lower Daily Geo Line, Last Week's EQ, and Today's Projected Geo Low.
Bulls do not want to see action on the 1hr/4hr start closing, and worse, rejecting from these lines. Wicks are fine. But if we see closings/rejections....The Bearish Pink Arrows from the Macro image become a much larger likely path for BTC.
If we start grinding higher from here, regain the Upper Projected Weekly Geo (Dashed Orange), and possibly Yesterday's EQ (61.7k), the Bullish Pink Arrows scenario from the Macro image would be my go-to, until otherwise noted.
As always, good luck, have fun, and practice solid risk management!