As this is a Point&Figure chart, I'll have to provide updates manually as TradingView currently doesn't support the 'play' feature for them.
Noticed something interesting supporting the Bullish case for the previous Fractal/Bear Trap idea: Breakout and retest of the macro descending resistance intersection with the dynamic support range ๐๐ฎ๐ Possibly the most bullish sign seen in recent months ๐ Stay tuned for more! I'll keep a close eye on this one & update as things play out! What do you guys think? Feel free to share and ask questions ๐ *Will update as more PA is available*
Green 'X' printed, sign of support being found & possible bullish continuation incoming!
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Not too much happening at the moment, still waiting
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Nice push from the Bulls
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More Bullish momentum supporting a major swing to the upside
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The 'meme line' I drew when Indicating the retest area has now become Rising Support somehow hahah
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Small update on the situation here, Holding above the previous support zone & creating a new rising support!
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Looking at the previous Idea posted, We could see some slightly descending momentum before the bullish upswing takes place! Here is the previous Idea: And the fractal was updated by copying each individual wave rather than the entire fractal (to get a more accurate target for the expected low of around 39k)
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^From above see the updates given below:
Fractal has been adjusted to better fit the scale of the current pattern
Here is the fractal overlaid on the price: *Bit hard to see because it fits so well*
Here is the same fractal without price:
Here it is with similar presentation as the original Idea:
And Lastly zoomed in to see next stages & swings (based on fractal):
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Looking good still, Bullish momentum overall holding stronger than bearish attempts
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Looking good still
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Local breakout!
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Updated chart
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Local resistance breakout
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Key resistance flip to support
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Some good signs! another res. breakout, could see a retest soon however not required until a red is printed
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Woah, major bullish pressure, could see a move to that rising resistance and horizontal res. line
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Expected path
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Cleaned up the chart as best I could and added some more information on my current thoughts.
We are approaching an important area of resistance, so would be expecting some volatility to appear soon.
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Nothing major, just some choppy PA as we battle res.
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Something like this is also on the cards
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Possible downswing previously mentioned has been invalidated/become-less-likely
Looking good still on the bullish side of things with the new recent local higher high!
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stopped perfectly at resistance... could see a swing down on the macro here!
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or we could see some sideways chop for money rotation into and out of alts? somethin like that even?
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Resistance broken!!
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Current thoughts on Bitcoin's PA (Price Action) macro as well as my current thoughts.. Expecting 53k-ish area as the likely next 'top' for the imminent bounce (expected based on the structure on P&F chart)
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Related charts are scattered throughout this idea: