BTC Momentum Swing Breakout Fakeout at 1:1 Time Fib
Experimenting with geometric pattern overlays. Everyone appears to have been aware of the BTC 'triangle' forming over the past week+ However, there was a better triangle pattern forming, imo, from a larger major SR trend line angled from above.
Attempted several Fib time relations from various points, highs, lows, low to low, high to high. This particular top trend line seemed to hit best.
Will BTC fake out upwards, and tumble to a standard downward target of this overall triangle formation? Is this WK Distro or Accum? [Looks like redist based on the current movement, imo]
Notice the several channels that coincide within the major triangle formation. I've noticed many times, no charts move within an obvious single channel or formation for too long. Yet, seem to bounce from longer term trend channel to channel, with difficult patterns to discern.
If nothing else, this chart in my estimation shows the power of multiple angled channels, while within a localized timeframe [possibly during major market structure movements] appears to follow similar geometric shape pattern overlays.
Major breakdown near the vertical blue lines to continue the overall Wyckoff distribution, or beginning of accumulation?
Attempted several Fib time relations from various points, highs, lows, low to low, high to high. This particular top trend line seemed to hit best.
Will BTC fake out upwards, and tumble to a standard downward target of this overall triangle formation? Is this WK Distro or Accum? [Looks like redist based on the current movement, imo]
Notice the several channels that coincide within the major triangle formation. I've noticed many times, no charts move within an obvious single channel or formation for too long. Yet, seem to bounce from longer term trend channel to channel, with difficult patterns to discern.
If nothing else, this chart in my estimation shows the power of multiple angled channels, while within a localized timeframe [possibly during major market structure movements] appears to follow similar geometric shape pattern overlays.
Major breakdown near the vertical blue lines to continue the overall Wyckoff distribution, or beginning of accumulation?
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