Bitcoins inner mechanics

just a quick note on the phase we are in right now as a follow up on last weeks live call: you might remember the sequencing of where one finds oneself within a sideways range in regards of cutting prismatically through turning points

at that call last Thursday we pointed out that after the completion of G, meaning the double top of the extreme highs with the strong bull pattern support of the "W" of DEFG, once I failed to reach the highs let alone break through to new highs, bears were getting a foot in the door.

Since that point they have taken any opportunity they can to short the market

This is especially true for higher time frame players which cases intra-day participants to find themselves into a choppy and hard to manage environment trading from the long side and as pointed out the next truly attractive long point to be at the bottom of the green box on the chart above

here is the typical overshoot pattern for BTC once phase J has initiated after I sequence point:

following is the daily chart with this double top"all time new high

overshoot:

now lets look at the 60 minute chart and its

overshoot double tops(for short entries):

this would also be a good example for our last article about:

"Trading a specific segment of the week/day"

of identifying in this case typical patterns of your desired trading instrument within a specific time sequence

in this case the third phase of a sideways patter in an uptrend https://www.theflowtrader.com/single-post/trading-a-specific-segment-of-the-week-day while these back and forward testings are very time consuming, they are extremely productive to support ones system development in the categories of increasing edges and quieting the execution process by having clearer trade process blocks versus real time evaluations without these "guidance edges"