Note
Just a note that the VOLUME OSCILLATOR is not to LOG scale but just the HISTOGRAM version with an added horizontal line in pink for marking zero. Only MACD and Chart are LOG scale.Note
Copy of my lateast post#bitcoin bull intact? "To the Moon" update.
Green MACD Histogram got off to a start with a peak in VOLUME OSCILLATOR ( Volume Oscillator not to LOG but Histogram Format with pink horizontal line added in to highlight zero) previous study needs to be set aside. Have included all such set-ups back to 2013. Have also included some RAYS of closing prices which I'm interested in keeping watch on from another study I've done but not published, as I think it's too subjective.
Had to decided whether trend line should be drawn from the joining up of the last two fractal lows in which case trend line has been broken or wait for a fractal high followed by a fractal low to form the trend line . I have chosen the latter. After forming fractal low price could travel sideways a bit so may have to adjust the trend line with any sideways movement etc.
Note
As per the above. Need set aside previous post which was based on a different scenario. Looks Green run MACD Histogram starting off with peak in VOLUME OSCILLATOR. Not many since 2013. Looks potential positive. Care though: next day never made new lower low. Also see below - a lot more volatility in making the low of 2nd October 2016Note
Copy of my most recent post#bitcoin bear case argument but how valid
Using custom MACD (6,12, Close,31) marked first day up in Histogram light blue vertical when <0 and yellow first day down when >0. Work your strategy/opportunity from 1st fractal on or after vertical. I've just used the light blue verticals for my argument here.
Note
Copy of my latest post#bitcoin vs Yuan predicted end 2013-14 bear market maybe.
Can't predict todays outcome but Yuan had same bad month at start of this bear as back in 2013-14. They were first actors in both starts & may be first actors out again at end maybe. Blue verticals correspond to months when both markets red candles. More notes on chart.
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Disclaimer
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.