[BTC market analysis] The trend has changed even though it has fallen from Sanson! Would you like to renew $ 11150?Explaining the essence of the market "fractal structure" [2020/9 / 21-9 / 27]
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Last week's Bitcoin quote review
We will analyze and review the market price of BTC/USD from June 9st to June 21th.
Last week's highlights
Looking back over the past week, the points I would like to pay attention to areIt was a phase where it returned to the Sanson neckline and sold additionally.That's the point.
The above image is an hourly chart of BTC USD.
As of September 9, it had returned to the previously conscious line of around $ 20, where it was selling more.
The image above is an hourly bar of BTCUSD.
As of September 9st (Monday) at the beginning of last week, Sanson was formed on the lower leg, breaking the neckline of $ 21.
This "three sons of the lower legs" was a very important aspect.
For last week's short strategyLast week's articleIt is explained in, so please refer to it.
In this way, it is common in the market world that technicals that appeared on the upper leg also appear on the lower leg.
This phenomenon"Fractal structure"Is called.
"Fractal structure" which is the essence of the market
Today"Fractal structure"I would like to introduce.
By the way, last week's article"Rising wedge / descending wedge"I will explain it under the theme, so please refer to it as well.
What is a fractal structure?
What is a fractal structure?"A structure that represents the same shape as the whole, no matter how small a part is taken."It is sometimes called self-similarity.
This also happens in nature, for example"Crystal of snow","broccoli"Is famous for its fractal structure.
in this way,Even if a part of the whole is enlarged (zoomed in), the same structure as the whole appears there again.there is.
This is called a "fractal structure".
This fractal structure also occurs in the world of the market, for example, "a small waveform is created in a large waveform" and "a small waveform appears in a large waveform".
The image below is an image of a waveform made of a fractal structure.
In particular, the Elliott wave is a very effective technical because it is easily affected by this fractal structure.
In fact, I myself use Elliott Wave to trade.
The fractal structure is hard to find, soThe important thing is to understand the overall flow (trend).
If you trade by trend following along the trend of a big time axis, the winning rate will increase and it will lead to stable trading.
Everyone, please look for the fractal structure by staring at the chart.
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Outlook this week
I will explain the market outlook for this week.
First, please see the 4-hour bar below.
Last week we made an additional sale at the Sanson Neckline, but it's rising steadily.
There is also a scenario of going up the line, so if it goes up, we will settle the additional selling position at the quoted price, and the position selling from 12000 dollars will be profitable at 11400 dollars.
The above image is one hour.
In the 1-hour bar, the uptrend continues and hit the previous high.
This $ 10823 area has been recognized as a support shift in the past and may be supported this time as well.
It may be good to buy in the short term, but I personally have a short position, so I avoid long.
This week"Whether the Sanson Neckline exceeds $ 11150"I will pay attention to.
This is the end of this week's market price analysis and review.
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