[[SEE ATTACHED CHART IMAGE FROM 14JAN2023]]
The "Potential Reversal Zone", or PRZ
-is between the 50% fibonacci retracement level at $32.66K
and
the 66% retracement level at $41.51K.
-----THE WHY---------
[[ WHY THE 66%?]]
((the primary tool in all of my technical anaylsis is the use of the "golden ratio" in forecasting 'pivots" as the 61.8% retracement level is the primary guide.
The 50% and 66% fibonnaci retracement levels are simply the most favorable deviations from the 61.8% level that accurately reflect market volatility]]
Synonyms of "Pivot" = "bounces", "bottom", "top", "reversals". ALL of these words essentially entail the same definition -that which the price at which the previous trend, either bullish, or bearish -changes.]]
____________________
FORECAST:
IF
THE BEARISH 5-0 HARMONIC IS VALID:
THEN
We will see a price reversal, or PIVOT between the prices of $32.66K and $41.151K.
THEREFORE -
Price can go as high as $41.5K over the next 173 days (another +6% from current $36.472K)
IF PRICE IS REJECTED AT, or BELOW $41.151K:
Bearish Harmonic 5-0 pattern IS VALID with bearish price targets beginning at:
1) ** AGGGRESSIVE $19950K *OPEN CME GAP
2) **** LIMIT BUY - $17.042K
- - IF PRICE PUSHES BELOW $15.479K - -
** 3) $12.292K [open CME gap at $11.1K]
**** 4) $9.615K *OPEN CME GAP
*** 5) $6.66K
*** 6) $4.44K
***** 7) $3.55K *OPEN CME GAP
IF THE BEARISH 5-0 HARMONIC PATTERN IS NOT VALID:
THEN
Price may reach $58.19K -or HIGHER.
THEREFORE -
IF
PRICE BREAKS ABOVE $41.151K IN THE NEXT 173 days
THEN
We will adjust positions to BULLISH and adjust our strategy accordingly.
IF
PRICE IS REJECTED AT, or BELOW $41.151K in the next 173 days
THEN
We will look for LIMIT ORDER FILLS at the 4 targets above.
IT'S A SIMPLE. EFFECTIVE. STRATEGY.
IT ONLY WORKS BECAUSE WE REMAIN RELATIVELY DYNAMIC -AND SO FAR, BITCOIN HAS OUTPERFORMED EVERY SINGLE INVESTIBLE ASSET SINCE 2010.
_____________________
IT IS TIME TO START PLANNING FOR THE NEXT BULLISH WAVE. THAT MEANS SETTING YOUR ORDERS WHEN CONFIRMATIONS ARE MET -AND HAVING THE DISCIPLINE TO WAIT FOR THE NEXT FILL.
**ALL SCRIPTS ARE MY OWN EXCEPT FOR THE RSI. IF YOU WOULD LIKE TO TRY THEM OUT, LET ME KNOW BELOW**
The "Potential Reversal Zone", or PRZ
-is between the 50% fibonacci retracement level at $32.66K
and
the 66% retracement level at $41.51K.
-----THE WHY---------
[[ WHY THE 66%?]]
((the primary tool in all of my technical anaylsis is the use of the "golden ratio" in forecasting 'pivots" as the 61.8% retracement level is the primary guide.
The 50% and 66% fibonnaci retracement levels are simply the most favorable deviations from the 61.8% level that accurately reflect market volatility]]
Synonyms of "Pivot" = "bounces", "bottom", "top", "reversals". ALL of these words essentially entail the same definition -that which the price at which the previous trend, either bullish, or bearish -changes.]]
____________________
FORECAST:
IF
THE BEARISH 5-0 HARMONIC IS VALID:
THEN
We will see a price reversal, or PIVOT between the prices of $32.66K and $41.151K.
THEREFORE -
Price can go as high as $41.5K over the next 173 days (another +6% from current $36.472K)
IF PRICE IS REJECTED AT, or BELOW $41.151K:
Bearish Harmonic 5-0 pattern IS VALID with bearish price targets beginning at:
1) ** AGGGRESSIVE $19950K *OPEN CME GAP
2) **** LIMIT BUY - $17.042K
- - IF PRICE PUSHES BELOW $15.479K - -
** 3) $12.292K [open CME gap at $11.1K]
**** 4) $9.615K *OPEN CME GAP
*** 5) $6.66K
*** 6) $4.44K
***** 7) $3.55K *OPEN CME GAP
IF THE BEARISH 5-0 HARMONIC PATTERN IS NOT VALID:
THEN
Price may reach $58.19K -or HIGHER.
THEREFORE -
IF
PRICE BREAKS ABOVE $41.151K IN THE NEXT 173 days
THEN
We will adjust positions to BULLISH and adjust our strategy accordingly.
IF
PRICE IS REJECTED AT, or BELOW $41.151K in the next 173 days
THEN
We will look for LIMIT ORDER FILLS at the 4 targets above.
IT'S A SIMPLE. EFFECTIVE. STRATEGY.
IT ONLY WORKS BECAUSE WE REMAIN RELATIVELY DYNAMIC -AND SO FAR, BITCOIN HAS OUTPERFORMED EVERY SINGLE INVESTIBLE ASSET SINCE 2010.
_____________________
IT IS TIME TO START PLANNING FOR THE NEXT BULLISH WAVE. THAT MEANS SETTING YOUR ORDERS WHEN CONFIRMATIONS ARE MET -AND HAVING THE DISCIPLINE TO WAIT FOR THE NEXT FILL.
**ALL SCRIPTS ARE MY OWN EXCEPT FOR THE RSI. IF YOU WOULD LIKE TO TRY THEM OUT, LET ME KNOW BELOW**
Nota
BETTER VIEWNota
3 DAY CHARTNota
3D + FIXED RANGE VOLUME VPNota
BTCUSD 12DBULLISH IDEA:
((fits well on a linear chart too))
Nota
LinearNota
BTC 12Dtesting out some new scripts.
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POSSIBLE BULLISH SCENARIO:3D
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.