BitcoinLong
Bitcoin Due For a Slight Run-Up Before a Massive Fall
Disclaimer: Not only is this not financial advice, the author feels that it would be wildly irresponsible to continue to invest in the markets given the high propensity of a black swan event occurring in light of information pertaining to Bitfinex/Tether.
However, there are those that still wish to continue their forays into the markets, so this investment information will be disseminated for the benefit of said individuals.
To the price analysis:
We’re going to do this price analysis slightly different and start with the H4 resolution.
Generally, based on this trading logic, we should expect the following:
Assuming Bitcoin did follow this price movement, it would dictate that the price would reach a high of 5.9k before a drawdown.
This pattern exists on the daily as well!
The chart above is the daily resolution for Bitcoin. None of the lines or text were altered before or after the change in resolution.
As we can see, the pattern still matches what we identified on the H4 resolution perfectly. Thus, we should look to this as a potential scenario for Bitcoin.
Relative Strength Index (14)
We’re only going to look at the RSI(14) on the daily resolution:
The arrows on the picture above are to show that we’ve seen four gradual increase in the ‘lows’ for the RSI(14) here as well as four gradual ‘highs’ for the RSI(14) too.
Also the ZN RSI has signaled a ‘buy’ on the daily (this period thus far; less than an hour before the close and this does not ‘repaint’).
From all outlooks, the RSI(14) is signaling that we should expect a continued price increase over the next few periods (days).
Conclusion
There are two different R/R that I have here.
This is the probable first scenario:
After that is fulfilled, this may be the next likely scenario (without factoring in the impending ‘black swan’):
However, there are those that still wish to continue their forays into the markets, so this investment information will be disseminated for the benefit of said individuals.
To the price analysis:
We’re going to do this price analysis slightly different and start with the H4 resolution.
Generally, based on this trading logic, we should expect the following:
Assuming Bitcoin did follow this price movement, it would dictate that the price would reach a high of 5.9k before a drawdown.
This pattern exists on the daily as well!
The chart above is the daily resolution for Bitcoin. None of the lines or text were altered before or after the change in resolution.
As we can see, the pattern still matches what we identified on the H4 resolution perfectly. Thus, we should look to this as a potential scenario for Bitcoin.
Relative Strength Index (14)
We’re only going to look at the RSI(14) on the daily resolution:
The arrows on the picture above are to show that we’ve seen four gradual increase in the ‘lows’ for the RSI(14) here as well as four gradual ‘highs’ for the RSI(14) too.
Also the ZN RSI has signaled a ‘buy’ on the daily (this period thus far; less than an hour before the close and this does not ‘repaint’).
From all outlooks, the RSI(14) is signaling that we should expect a continued price increase over the next few periods (days).
Conclusion
There are two different R/R that I have here.
This is the probable first scenario:
After that is fulfilled, this may be the next likely scenario (without factoring in the impending ‘black swan’):
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Twitter = twitter.com/librehash
Website = librehash.org
GIt = git.librehash.com
Docs = docs.libreahsh.com
Disclaimer
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