Median-based TL's on FCT's reveal internal 'lines of force'
("FCT" = Fractured Counter Trend) Here I used a pitchfork based on the first fractured CT from the December 2018 structural low. It seems to fit the action quite well, so, IF Bitcoin drops below its current dip (the low of the larger FCT - high blue arrow), look for the turn around at or near this rising level (as indicated). Likely a hit of the top of the channel. This current move down from the June high seems to be pretty typical FCT action, so I think a new high, once it runs it's course, is a pretty reasonable assumption...
Not to mix methods, but count-wise the run up to the high seems to involve two numbers, 12 and 10. The first being the 'whole' count ending at the 'pull 1' terminal, the second being the 'sectional' count to the pull 1 terminal. From this point ('pull 1' is wave 2 - the first FCT), a 12 count plays out (ending w/ high vol. in early April - confirming the 12...) then a 10 count follows with the high appearing above its endpoint.
I'm using "M4EL Ultra" script to locate FCT's here. Source pivots can vary (usually trend terminals) but pivot points 2 and 3 (if you count the source as '1') will almost always be the high/low of an FCT. This method allows you to line up your TL's with the true (invisible) internal lines within the trend.
DISCLAIMER: It's a good idea to wait for FCT's to finish before drawing pitchforks on them. I jumped the gun here just to illustrate what could happen. Since the FCT doesn't seem to be over just yet, what you're looking at is pure fiction - at least with the upper pitchfork...
Not to mix methods, but count-wise the run up to the high seems to involve two numbers, 12 and 10. The first being the 'whole' count ending at the 'pull 1' terminal, the second being the 'sectional' count to the pull 1 terminal. From this point ('pull 1' is wave 2 - the first FCT), a 12 count plays out (ending w/ high vol. in early April - confirming the 12...) then a 10 count follows with the high appearing above its endpoint.
I'm using "M4EL Ultra" script to locate FCT's here. Source pivots can vary (usually trend terminals) but pivot points 2 and 3 (if you count the source as '1') will almost always be the high/low of an FCT. This method allows you to line up your TL's with the true (invisible) internal lines within the trend.
DISCLAIMER: It's a good idea to wait for FCT's to finish before drawing pitchforks on them. I jumped the gun here just to illustrate what could happen. Since the FCT doesn't seem to be over just yet, what you're looking at is pure fiction - at least with the upper pitchfork...
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