I have used an adaptation of the Simpler Options Voodoo lines to see if I could capture the movement of Bitcoin. I reoriented the Voodoo lines from a horizontal approach to one the follows the longer term trend line angle from the last big movement that seems to have affected price.
BTC seems to respond to these forest and fire fib lines with this new type of orientation :) I look forward with keen interest to see what it does next. I think it will move into quadrant 3.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.