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Gann Square

Daily bullish dragon challenging the arc This is the sequel of our previous ideas in which we saw the arc having confined BTC within it and a 4H-timeframe bullish dragon . BTC gained bullish momentum after getting out of the arcs' crosspoint, forming the LTF dragon pattern . 17200 resistance has already been touched, likely to be broken. 17600-17900 is another solid resistance zone. So we could eye profit shorting from there. But the daily chart indicates BTC already has formed another same bullish formation which could develop into as high as 20.18k as the 0.786 retracement level, or even higher. Given the enormous descending triangle to the left and the arc that exhibited the incredible confinement that dried up all the BTC volatility, 20k+ from now is certainly questionable. But we should note that this fickle speculative asset has always betrayed the expectations of the vast majority of the market- once again, the candle could burn out brightest before extinguishing itself.
by jackrabbitrage
2
Volatility expected after clearance of the arcs containing BTC BTC is trading within a very narrow range. There may be reasons for the exceptionally low volatility, one of which might be provided by arc analysis. As can be read from the chart, BTC has been contained in a crosspoint of the arcs. By scrolling the above chart, it can be seen how well the arcs have served S & R. Coming out of that area, BTC is expected to slowly recover its volatility, perhaps within a couple of days. If the arcs are strong resistance, 18K or higher prices are less likely, esp. in HTF. For the expected upside move, please look at my related idea below.
by jackrabbitrage
BTC in compression We are amid a double-bottom rebound in the short-term timeframe, which looks like a triple-bottom pattern that reminds us of the inverse head and shoulders. Nevertheless, the chart is moving slowly. Why is this? At least the arc answers. We are in the middle of a compression. Where does the compressed energy go? Let's look to the left here. Even conservatively, symmetrical and descending triangles are formed, and if we do a more non-standard pattern fitting, is this an inverse cup & handle? If so, it's odd that the decline stops where the top of the green box indicates. By the way, the chart has long respected the gray arc. It seems to be wobbling around, but if BTC turns around and resumes its dismal gray or monotonous decline, we should still see the bottom below. However, one never knows what will happen in the market. Let's keep an eye on the compression ahead. *Hate comments or meaningless criticism are not welcomed but will be immediately reported. For those who hate arcs but like more standard analysis, see my previous idea .
Short
by jackrabbitrage
Is USDJPY forming an Elliott impulse?: Back to 141.2 then 135 If the chart is forming an Elliot impulse wave, and the sharp drop last week was the third wave of it, we will see the fourth wave correction and arrive at the short-term target of 135.0. As detailed in the related idea linked below, I would see an elongated range formation, and it could take years for the yen to recover its original level. Pitchfork. the arks, and the fans are additional TA elements in this analysis, so if you hate them, especially Gann Square, ignore them. Or skip this idea. Offensive comments aren't welcome (and will be reported)
by jackrabbitrage
4
Elliot impulse to complete at 135? As we predicted in one of our scenarios below, the chart seems to complete an Elliot impulse (its first wave could be a non-standard impulse or a diagonal). Because this chart respects Gann Square and arcs, the fifth wave will likely land around 135. This also fulfills one of the standard extensions of the H &S downfall, i.e., FE2.000. Possible next developments: - Ascending triangle -forming corrective wave ABC before the next impulsive bearish movement. A bearish scenario in which the chart fails to extend more than FE 1.272 or so for I. H&S and turns around. - 5-0 -to retest the daily high. If it rebounds at around 138, the chart can be construed as still bullish. This is less likely, considering the U.S. interest rate hike will cease. *Although I know there are some haters for Gann Square and Arcs, any meaningless hate comments are immediately reported.
by jackrabbitrage
1
WD Gann - Square of 9 - BTCUSDApplying one method from WD Gann's "Square of 9" toolkit. Find a range low and run this calculation to get the range high: ``` ( sqrt(range low) * 2 ) ^ 2 = range high price ``` Find a range high and run this calculation to get the range low: ``` ( sqrt(range high) / 2 ) ^ 2 = range low price ``` This chart has 4 example of this in action. Black, green, red, purple. Calling it right now that 15800 (red) and 18600 (purple) are our "range low" relative to BTC's all time high.
BINANCE:BTCUSDLong
by Riester
Bearish Speculation: Short from here, or from 17600? I have presented some ideas where this downtrend is interpreted as Elliott's triple zigzag (WXYXZ) (see also links below). So let's continue the speculation. If the Z wave of it is now developing, it would have, by definition, a three-wave zigzag structure (WXY as presented, but ABC also possible) comprising 3-3-3 waves. No wonder this chart begins to decline from here onward, but if BTC shows at least some strength the next week, an ideal double top setup will be complete (bullish scenario excluded from consideration here). For H & S's right shoulder (or a symmetrical triangle), if FE 1.786-2.000 is the target zone (FVG agrees with it), and if we confirm a smaller double top at around 17600, it would be another ideal setup for the bearish progressive wave (here an impulse, 12345). This scenario is nothing more than a speculation, but it is theoretically clean and would support my WXYXZ hypothesis. I have not mentioned Gann Square, but its presence would be self-explanatory (if you hate it, please ignore it. This idea isn't affected by removing it). Pitchfork is also for reference (based on the hypothetical downward impulse). Just so you know, I premised the Z wave as WXY, not ABC- because this could, in my opinion, develop into WXYXZ where the actual bottom is below 12500 (possibly 9500-7500?).
Short
by jackrabbitrage
Corrective wave scenario This is supplementary/alternative to my previous idea. Examining the internal waves of my presupposed "impulse," I realized some counts might mismatch Elliott's Law. Instead, this move may form a corrective wave, e.g., complex correction (WXYXZ, Gray) or Diagonal Triangle (ABCDE, red; could be longer if with a thrust). The chart would be self-explanatory, but the Triangle annotation is shifted for visibility. In either scenario, the retracement in the fourth (corrective) wave is deeper than that of the impulse.
by jackrabbitrage
Downtrend did resume, and what's next? The chart would be self-explanatory. Here we are rebounding from FE 0.886. I marked 1.000 and 1.114, respecting the H & S. This article is tagged as "short," but beware of possible extensive upside moves. Better be cautious until the candle crosses down the arcs' crosspoint (at least in a lower timeframe). By the way, this is an update for my most notorious chart. While my previous analysis has astonishingly been trolled, the chart didn't take care of what they felt- Like it or not, this is the fact.
BITMEX:XBTShort
by jackrabbitrage
19
Weekly candle to close red suggesting trend continuation Gann Square, the built-in smart tool of TradingView, is provided with many fans and arcs. Every single one of them, if properly plotted, is considered to serve as S & R. Not to mention their crosspoints. In this chart, I applied it so that only the strong movements (progressive waves in the E.W. Theory) in the trend direction penetrate the arcs and the crosspoints. So if the weekly candle closes red, the arc resistance is confirmed together with the trendlines, making any upside to mark HH more difficult (implying a continued downtrend). Let's check this scenario. Although this is not textbook theory but my empirical analysis, the light-green shaded zones act as resistance zones like the Ichimoku cloud. Considered in conjunction with the low of 17600, we would see a large or small rebound there. However, a move beyond 25k, especially over 28k, within one or two weeks is almost unlikely, given the overhead crosspoints and the likely continued macro downtrend. Gan Fan 1 x1 (thick black) may serve as support. Watch 16500 if 17600 support is lost.
BITMEX:XBTShort
by jackrabbitrage
27
Bullish or Bearish: Watch Clitical Support Level of 18700 With the crypto exchange's asset liquidation plan flowing as FUD, the BTC chart, which looked strong, looks fragile. Technically, a Bullish Dragon (green)' s TP (21700) has almost been (but has yet) reached, and BTC is on the path to test the support of another giant Dragon (blue). Dragon patterns (often simply wedges), large or small, bullish or bearish, their theoretically cleanest target is a Fibonacci retracement level of 0.786. So let's look at the red, bearish dragon's FR 0.786, where several supports converge. It's around 18700. If BTC is on the bullish path, but a further correction is needed, we would likely see a rebound at around 18700 (green trendlines), and a bullish Elliot progressive wave (green 12345) will follow. On the other hand, if the price breaks down through the critical support level of around 18700, we would witness a massive decline reopening the downtrend (red 12345). If the market turns out to be bearish, my immediate previous idea will be invalidated. This analysis should be neutral, but I see corrections in a bullish path. So this is tagged "short." Note: Gann Square and arcs are for reference. If you dislike it, you can ignore it. Criticism for Gann Square isn't welcome in the comment area.
BYBIT:BTCUSD.PShort
by jackrabbitrage
2
BTC Possible Middle Term Scenario (Rev) Some errors and issues in precision are addressed. No change in fundamental concepts. The bear market shouldn't have been over, but we are likely in a relief rally if the price rises above the threshold of around (21600-) 21800. Beware of still possible correction before the bullish move after the breakout. Long until December, and maybe short (in January) at the 33k-34k zone. If the market is more bearish, the downtrend could resume at 28k-29k. I changed my view because the bullish dragon in the related idea now seems to have been in action. The chart and annotation would be self-explanatory: the keys are harmonic patterns and Fibonacci. To those who hate Gann Square and arcs: Ignore them, or ignore this idea. It's simple. Think twice before you post anything in the comment area.
Long
by jackrabbitrage
BTC Possible Middle Term Scenario The bear market shouldn't have been over, but we are likely in a relief rally if the price rises above the threshold of around (21600-) 21800. Beware of still possible correction before the actual bullish move. Long until December, and maybe short (in January) at 33.5k-34k. If the market is more bearish, the downtrend could resume at 28k-29k. I changed my view because the bullish dragon in the related idea now seems to have been active. The chart and annotation would be self-explanatory: the keys are harmonic patterns and Fibonacci. To those who hate Gann Square and arcs: Ignore them, or ignore this idea. It's simple. Think twice before you post anything in the comment area.
Long
by jackrabbitrage
BTC: Watch 18460 if it breaks below the bottom of pennant As we predicted, the bearish dragon pattern (red) is unfolding to pull the price down to approx. FR 0.786, almost the bottom of the pennant (gray). If it breaks, what's the next target? Because Gann Square works well, we could focus on its crucial component - two Gann Fans 1 X 1 (blue). Interestingly, the crosspoint of the two Gann Fans coincides with the FR 1.272 level of the bearish dragon. If you look at the left side of the chart, this horizontal, 18460, will be conscious initially. But, because so many things overlap, no wonder it serves as significant support before the price reaches the current market low of 17600 at a continued downfall.
Short
by jackrabbitrage
4
BTC Bearish Dragon Pattern Unfolding On top of what could be a relief rally or a tentative bull run, a Bearish Dragon Pattern is unfolding, with active OI in Binance rapidly decreasing (indicator pane). Typical TP is FR 0.786, but if it breaks the channel and re-enters the pennant this time, I'd like to point out the possibility of passing down through it to reach, e.g., 1.272. The green ark would serve as a support. The scenario is invalidated if the top of the dragon (approx. 20500 ) is broken. See the related ideas for details of the scenario, the lines, arcs, etc.
Short
by jackrabbitrage
1