BTCUSD Inception Day 7-1-2020, Special Update

Greetings fellow traders,

As time goes by, the markets evolve...
If your way of TA is strong, then the path will lead its way...

More visible, more probable:

• Dashed lines; Possible forming patterns
  
• Solid lines; Confirmed patterns / Support or Resistance
  
• Dotted lines; Possible price-action trajectories / wave trend
  
• Lighten colors = Support | Darken colors = Resistance
  

' I’m trying to free your mind, Neo. But I can only show you the door. You’re the one that has to walk through it. '
~ Morpheus, The Matrix ~

With that having quoted, this is my way of keeping order in the chaos. I call it, "Pattern Formation Level( PFL )":
Alpha > Beta > Delta > Echo > Gamma > Theta

Explanation PFL:

• This is an additional stage of usage of the pattern formations. Some level of experience in pattern formations is required. You can also ignore this part and head straight to 'Today's Note', just read the patterns between the brackets.
  
  Alpha; ST / Bullish Pennant pattern formation, a.k.a. "The End Game", a.k.a. "The Big Long". (Daily and higher time-frames)
  
• Beta; Most recent relevant and biggest forming pattern within The Alpha forming pattern. FW / DC. (4-24 hour time-frames)
  
• Delta; Most recent relevant forming patterns within The Beta pattern. (4-8 hour time-frames)
  
• Echo; Most recent relevant forming patterns within The Delta pattern. (1-4 hour time-frames)
  
• Gamma; You get the picture... (10-60 min. time-frames)
  
• Secret Level; Do not thread these treacherous waters. At least for master level TA skills or higher. (10 min. and lower time-frames)
  
• Eventually the PFL's are all connected. Gamma patterns combines into Echo pattern and Echo patterns combines into Delta patterns etc. Until the Alpha patterns has been formed. I'm not calling it just the Alpha for dominance in size. For as this pattern, is, the Alpha and Omega. Which will end current market cycles and start anew. From time to time, I might thread the secret level when I'm feeling gutsy.
  Additional advantage of the PFL system is, when you have to determine whether a certain pattern will have its usual breakout direction.
  
  By inserting pattern formations in the PFL as parameter. This makes it easier keeping track of which pattern formations are relevant to the current TA and entry or exit strategies.
  
  It might be hard to learn, but it is certainly easy to master.
  
  As a programmer and I like playing chess, as result to my TA. I like to look ahead as far as possible. This is only doable if you have reasonable reliable trends to follow. In time, as I gain experience in the markets. My TA skills evolves and in parallel my systems and indicators.
  

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Current Beta patterns:
FW/DC is about to break out. It already broke through resistance. But daily needs to close above, before we might see more rising movements.

Current Delta patterns:
DT Unusual break out to the upside or followed the Beta patterns trend trajectory overriding every usual expected breakout direction.
Beta pattern breaking through resistance, this level is currently obsolete.

Current Echo patterns:
Beta pattern breaking through resistance, this level is currently obsolete.

Current Gamma patterns:
Beta pattern breaking through resistance, this level is currently obsolete.

Current Theta patterns:
Beta pattern breaking through resistance, this level is currently obsolete.

Today's Note:
This is a moment I've been waiting for since 14th of oktober, see related idea below. Honestly didn't expected it to happen, but it is definitely possible. If bitcoin closes its daily candle above the resistance of the Beta(FW/DC) pattern. We might see the current one evolve into a DBW. Thus, we might get a short-term bull run. I'm waiting for EMI for bullish reversal signals. Then I'll enter a long position. Otherwise make strategies for short position.

To be concluded...

Current Targets:
Exit long position / Entry short position target: $8.5K - $9.5K region.

Tip's/FYI:

• People = Psychology > Patterns > Indicators > Fundamentals. Nonetheless, all is crucial.
  
• Watch & learn from experienced traders and Discover your style of TA, hence develop this. Imitating will only get you as far.
  
• The most accurate trend indicator when using logarithmic, are the; Relative-, Exponential-, Weighted-, Simple- and regular Moving Averages. At least use Heikin Ashi candles if you don't like MA's and vice versa or using both might be even better. The algorithms of these indicators adepts to logarithmic variables visually. Linear tools and pattern formations obviously do not for that matter. Since it doesn't concern logarithmic variables.
  
  

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Epilogue:
As you may I have noticed, I trade a lot of times. This is only possible when you have honed your TA skills.
Hopefully in time and it would be my honor, when other analyst implement my systems and techniques into their TA. Henceforth bringing their TA skills & abilities to the next level. I have taken a lot of information from this community. However I believe. When you take, you should also share. After all, knowledge and experience are the most valuable things in life.

If you don't want to miss out on any of my daily technical analysis. Then click or tap on follow and don't forget to smash on that like button ^^, thanks in advance. In case you're wondering which indicator I'm using. She's called EMI , short for 'Epic Market Indicator' and she's a collection of diverse indicators. How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions. EMI 1 v3.0 & EMI 2 v2.0. Like any other instrument, practice makes perfect. If you have any input for EMI or questions about my way of TA(*Asian sound-effects*). Please leave a comment or DM me and I'll try to respond a.s.a.p. Be careful and good luck fellow traders, may the trend gods be with you!

Commento:

Just woke up, good thin I went to sleep. Avoided making stupid trades haha. The current forming pattern looks, I reckon it's an ADB. But I would really love to see is the green X closing today.

Commento:

This means, if the price closes above the daily EMA-89. It's highly probable that this is at least a short term bullish reversal sign.