Fractal Configuration by fibonacci channels 0FC Incline = 2017ATH → 2021ATH 1FC 2015BOTTOM ___ Having recession and unstable worldwide situation is quite contradicting and acts like an obstacle when it comes to investment decisions. That's why we gotta focus on what we know. For global analysis we have to use big wave coordinates. For people who are aimed at big $%, I'll remind that 2024 is the year of halving. That's why 2023 in btc market will be governed by impulsive bears. The shape we see so far is freefall. During 2023 it will curve to sidetrend indicating that the last significant bear left the market or switched to bullish incentive inside hypothetical collective consciousness of the market. To confirm this thesis we'll see double cycle on the bottom inside "cold" colors area. DC marked as ⭐️. In a nutshell, think of what shape price must draw to make masses and institutional capital jump back to btc.
Kommentera
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Kommentera
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Bullish Depth Levels at intersections of top black line with fibonacci channels from 0.618 to 1
Kommentera
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Even after "breakout" it won’t hold for a long. Real impulsive bullish wave will start only when it’s done falling into green zone. I believe wave C hasn’t yet been established.
Not the clearest technical analysis, but the description totally brought it out)
EastGackle
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@TradingStat, Looks clear tho
Solldy
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Very high-quality description, my friend. I just got a high from reading it 😌 I think that the idea will work pretty quickly, with the current volatility it has every chance to do so.
Pitchforks are great tools and you're not representing any fractal on your chart, which is even better since those are useless. So why using the term "fractal"? Is it for style? I'd suggest adding "Elliott waves" for more clicks! lol This potential falling wedge still has space to retest the 10k-12k area until May 2023 before it becomes obsolete, which concurs with the current macroeconomics and stock market state.
fract
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@GreenValleyTrading, Because Fibonacci channels are based on coordinates of critical points of systematic patterns - fractals