BTC FUNDAMENTAL AND TECHNICAL ANALYSIS

@asuquokelvin - 1 month ago

Okay. I understand the angle that you're coming from.
but On this BTC- What do you call equal highs like the one shown in the line chart below?
When they form at resistance zones what is expected of them?
What most people don't understand is that patterns have variations, but most of our basics we were taught just one style, and one variation.

Double tops or bottoms are not just for reversals, then can signify continuations. They can form as close range, they can form apart, but within same time range.

I believe If I had said equal highs, instead of double tops, you would have agreed more. But then will you say there's a difference between double tops and Equal highs?

When looking at patterns, we critically look at the zones where they are formed, let's take for example you are trading and equal high at a reversal level of a higher timeframe but you are in a lower timeframe yes it can be called a double top base on how the structure forms not because you want to forcefully see it, variations are not based on how reversal or continuation patterns form, we have variations base on the fact that some are continuation while some are reversal and can only be seen clearly at reversal levels either from a higher timeframe poi but can't be seen in a middle of the trend , and continuation can't be seen at reversal levels like the bullish wedge or bearish wedge pattern and the peanant so you should consider those things before you map out what you think you are seeing

Look at the chart image you will see the double bottom pushing price upwards and the Triple top pushing price down those were swing levels

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@asuquokelvin - 1 month ago

Alright.
BTC- Price played out as expected internal HnS created. Expecting the external pattern to form next week, before the drive downwards.

BTC is trading above the 4hr recent structure which is a lower high, if price closes above that recent 4hr structure level, we should see a buy continuation to the previous highs on the daily

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@asuquokelvin - 1 month ago

Alright.
BTC- Price played out as expected internal HnS created. Expecting the external pattern to form next week, before the drive downwards.

BTC move can be internal liquidity or a breakout base on the 4hrs structure but will wait to confirm

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@godspowerdan - 1 month ago

BTC- I'll follow this bearish channel until it is invalidated, before I can start looking for buys again.

You should check it now

Price should have invalidated that your bearish channel

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@godspowerdan - 1 month ago

Alright then. i'm holding on to this bias on BTC

BTC bias is now bullish

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@asuquokelvin - 1 month ago

Quoted - godspowerdan

You know the trend is still bullish right

Those sells are just retracement inside the bullish range irrespective of the protected highs

I know because from my weekly swing the daily is still at a discount level, so those sells on 4hrs are just retracement haven't gotten a 4hrs reversal yet so I will just wait

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@asuquokelvin - 1 month ago

Quoted - godspowerdan

Price has traded into discount of that buying range, but with way price is protecting the highs on the retracement leg, it seems as though price will take out the external of that bullish range.

I will only look for buys when price takes out a protected high still inside that same range

From the internal structure, price has reacted inside the yellow box but could not close with strong volume above that lower high structure, so I will wait to see if price will reverse from there

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@godspowerdan - 1 month ago

Quoted - asuquokelvin

I know because from my weekly swing the daily is still at a discount level, so those sells on 4hrs are just retracement haven't gotten a 4hrs reversal yet so I will just wait

Alright then

Just wait and see out price will play out so you know where to buy or sell from

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