RandomOracle

A case for both Bears & Bulls (Fractal Repetition or Bear Trap?)

RandomOracle Diupdate   
INDEX:BTCUSD   Bitcoin
Noticed that $BTC is potentially repeating a pattern that we've all seen recently...
We could be seeing either:
- A highly coordinated bear trap..
or
- A continuation of the current correction..

Thoughts??
*moved the pattern down a bit to make it easier to see*

Now while pattern similarity doesn't necessarily mean guaranteed PA (Price Action) this is still a concern to keep in mind...
A side note However, is the US and Asian Stock Markets have been quite undecided as of late, maybe we see a correction on them which causes a drop in crypto (due to the correlation) ?
Here are my current thoughts:
^Above is the fractal shown

Now taking into account some of my previous charts on the stock indices, We could see a correction from them which causes Bitcoin to finish off this fractal it's been painting?
Here is a combined ticker on global stocks:

Having a look at SPX we can see a potential bearish setup also as it's currently breaking down:

And we have a similar situation for the following 3 indices:
Bearish setups and/or bearish breakdowns..

With the potential correction on various stocks, this could complete the fractal for BTC as shown in the chart...
or
It's just one major and elaborate bear trap before a major bullish continuation...

A well thought out bear trap makes sense from a Macro point of view also!
However, Only time can tell from here, But it's good to keep in mind this fractal & the information above.. Good luck!

Related Ideas below:

Some food for thought that's for sure... What are your thoughts??



*Symbol tags below, Ignore these*
BTCUSD BTCUSD BTCUSD BTCUSD BTCUSD BINANCEUS:BTCUSD BTCUSD BTCUSD BTCUSDT BTCUSDT BTCUSDT BTCUSDT BTCUSDT BTCUSDT BTCUSDT BTCUSDT BTCUSDT BTCUSDT BTCUSDT.P BTCUSDT BTCUSDT_PREMIUM
SPX SPX SPX500USD W1DOW NQGI NQGM TOTAL TOTAL2 TOTAL3 SATSUSD BLX
*Symbol tags above, Ignore these*
Komentar:
The bear trap idea Is also supported by this Point&Figure chart I've been watching:
Komentar:
Fractals are repeating patterns ( fractalfoundation.or...s/what-are-fractals/ )
^For those new to the term 'Fractal'
Komentar:
Here is a look at the fractal directly on top of the current Price Action to see where a likely bottom would be if bears won
Komentar:
Noticed something interesting supporting the Bear Trap idea

Breakout and retest of the macro descending resistance intersection with the dynamic support range 🙏🔮🚀
Komentar:
New Idea
Komentar:
Fractal has been adjusted to better fit the scale of the current pattern & each wave's individual scale variation
Komentar:
Here is the fractal overlaid on the price:
*Bit hard to see because it fits so well*

Here is the same fractal without price:

Here it is with similar presentation as the original Idea:

And Lastly zoomed in to see next stages & swings (based on fractal):
Komentar:
Fractal expected path
Komentar:
Fractal invalidated or temporary pause, Looking likely we've seen a highly coordinated bull trap
Komentar:
Funniest Bear trap in recent memory hahah
Komentar:
Updated this Idea stopped perfectly at resistance... could see a swing down on the macro here!
or some sideways chop for money rotations into alts? somethin like that even?

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