Quartz4ever

Quartz4ever

Just for fun, I have some outlined bearish pennants. Lets see what happens, and I'll update with screen shots if more pennants appear. These are good to look for when there's a downtrend started. How many will accumulate, I don't know, but have an idea not to many more. They are usually few and a diversion will eventually override it for an upswing, however not...

Quartz4ever

I have a lot on the chart, lets decipher through this. Some of the information shown on the chart, for example, is from some previous Published Ideas like H & S and Double Top, which is not discussed at this time. First a Double Trend continuation. We have both a long term uptrend and a much shorter down trend. Both trends show no diversions. Both trends showing...

Quartz4ever

What's this have to do with trading. Well, If you wanted to long, probably not a good entry point. If your Holding a Short good signal to keep the slide ride onboard. It is a signal that a continued downtrend is more likely. I'd have to suggest that most likely the next lower low will carry the diversion signal. Which doesn't mean the downtrend ends, it means that...

Quartz4ever

Price develops a V pattern. It gives us strong indication for a steady price up trend. Along with this we should note/ and be aware, where trouble lies ahead. I've charted the neutral area and fall out zone. Price can develop a sideways action in a horizontal neutral zone not shown but visually with Dashed horizontal lines on the chart. Keeping an eye on your...

Quartz4ever

Wondering ... an area where price has no resistance for the fall-out. Look to the left another pattern to look for, this also works when price is going up.

Quartz4ever

Yeah it's the 15 min trivial... see what happens. Identifying patterns is good training to always be watching, regardless of the time frame. I start with easy ones, I will post others in the future, keep an eye out for where your indicators are and the pattern, as the pattern will react different to different levels in your indicators.

Quartz4ever

For one reason we need to wait it out 1 to 3 weeks. This can work, but highly unlikely. A Daily H&S is pretty uncommon. I give it a 10% chance or 30% of a heavy downturn. What's notable is that formations do happen and price reacts to fundamental patterns, it's physiological and simply this. What's important is that the trader is looking for all kinds of patterns...

Quartz4ever

So strong the Bulls are, and never discount this with BTC. This chart showing the Daily diversion that has developed. Shown is my theory on its retracement. Nonetheless BTC will make newer highs in the future.

Quartz4ever

Huh, I had this diagonal black line drawn on my chart two week ago, currently price has been using it as a ceiling. Lines and boundaries do eventually fail. Does price bust through and upwards soon ? or will price take that nose dive down first ? I haven't a clue this time we're all in the middle of the pandemic COVID-19. My best guess is lower prices eventually...

Quartz4ever

From this point in time... 20% chance price goes upwards - 80% chance the downward trend hits new lows. There are more peeps betting longs usually than shorts. I have included the synopsis on the indicators. There's the 20% chance price this weekend decides to go no further down and a new temporary bull trend starts There's an 80% chance price develops new lower...

Quartz4ever

Yeah, most of the indicators are wanting up. The 4 hour is the only weird one, and is the only exception I see not starting an immediate upswing. My cards are already in for the long haul. If it really does go down ... ouch, then we have to wait for the 4 hour to bottom out or reset for the upswing. I have a snapshot of my indicators for the Daily below.... ...

Quartz4ever

I think at this point in time because of the weekend and low volume (except for the random spurts of high volume), we should anticipate watching price action closely, along with trend lines. Some indicators are running flat, some of indicators (Stoch) are either all the way (down or up). So this leads to confusion and it's best to follow price action very closely...

Quartz4ever

Should generally and eventually trend in the upwards directions, meaning higher highs. There's few indicators trending downside that could possibly take over and push price into a downtrend and this is why I'm watching the price action with trendlines.

Quartz4ever

See how this plays out. Price could go beyond lower than that blue line, which would incur a much larger swing down.

Quartz4ever

Seems to me the bearish drop is lacking strength, it might be the resulting pull of the weekly MACd crossing over in to positive, pointing up and moving upwards. Careful with the entry for long --- Price can still take a considerable dip due to the Daily indicators dropping off the cliff, moving downwards, and ready to pass under the 50 yard lines. I think that...

Quartz4ever

Seems like price needs a little relief dip. This scenario gives a realistic possibility. Stair stepping its way down.

Quartz4ever

Bearish call still. More TF indicators are diminishing towards the downside now. This breakdown should happen soon. Chat room still is more Bullish than Bearish, with that said this is against the sentiment. It's BTC anything is possible with it's volatility.

Quartz4ever

Calling out a bearish pennant formation. For theory: Take the flagpole length and apply that to the estimated exit of the pennant and this is how the PT (price target) is found. Although being BTC and the volatility BTC creates, I expect more downwards pressure and a greater declining red flag pole than what I have shown.