An analysis of current and past price action.
Updated
For the very first time, the amateur shows two different perspectives on BTC.
The chart on the left is the current daily chart for BTC.
The chart on the right is the daily chart from back in June 2017.
There is one massive similarity between these two, a fractal, outlined by the corresponding numbers on either chart.
The left shows different trend lines I have drawn ranging from very slow/organic growth, to parabolic growth.
There is a massive range BTC could hit by 2019, between $2,950 and $176,000.00.
If we break upwards of 100k+ however, I can't see $176,000 being the top.
My money is on 63k+.
If you check out the RSI, it's very clear we are possibly starting a parabolic trend.
Every single time frame is overbought, minus the weekly and monthly.
On July 17th, the 4H RSI hit 90.3473, and we are STILL CLIMBING.
The last time the 4H RSI has been seen like this, was on 6/12/2016, over TWO YEARS AGO.
We just had 6 green daily candles in a row.
This hasn't happened since November 30th, 2017.
Prior to that, May 31st, 2017.
Weekly MACD is about 1 or 2 weeks away from crossing bullish.
Gee, what a convenient timing for the ETF to be approved/disapproved..
Weekly volume is already HALF of what it was last week, in just one day.
tradingview.com/chart/0D9C9qKC/
Oh and did I mention, we D E S T R O Y E D the insane downtrend resistance from January 20th, that's held us from breaking
12K+?
Oh and did I mention, the M A S S I V E bullish divergence that has been showing on the daily for some time now?
Big players in this market are moving it for a reason.
Prepare your moon suits bois.
My name is MC_Peewee,
but you can call me teh Salesman.
The chart on the left is the current daily chart for BTC.
The chart on the right is the daily chart from back in June 2017.
There is one massive similarity between these two, a fractal, outlined by the corresponding numbers on either chart.
The left shows different trend lines I have drawn ranging from very slow/organic growth, to parabolic growth.
There is a massive range BTC could hit by 2019, between $2,950 and $176,000.00.
If we break upwards of 100k+ however, I can't see $176,000 being the top.
My money is on 63k+.
If you check out the RSI, it's very clear we are possibly starting a parabolic trend.
Every single time frame is overbought, minus the weekly and monthly.
On July 17th, the 4H RSI hit 90.3473, and we are STILL CLIMBING.
The last time the 4H RSI has been seen like this, was on 6/12/2016, over TWO YEARS AGO.
We just had 6 green daily candles in a row.
This hasn't happened since November 30th, 2017.
Prior to that, May 31st, 2017.
Weekly MACD is about 1 or 2 weeks away from crossing bullish.
Gee, what a convenient timing for the ETF to be approved/disapproved..
Weekly volume is already HALF of what it was last week, in just one day.
tradingview.com/chart/0D9C9qKC/
Oh and did I mention, we D E S T R O Y E D the insane downtrend resistance from January 20th, that's held us from breaking
12K+?Oh and did I mention, the M A S S I V E bullish divergence that has been showing on the daily for some time now?
Big players in this market are moving it for a reason.
Prepare your moon suits bois.
My name is MC_Peewee,
but you can call me teh Salesman.
Note
Weekly volume is already HALF of what it was last week, in just one day.Incorrect link above.
This is the correct one:
Note
Friends, take a look at between 8 and 9. I didn't notice it until just now.Someone PLEASE try and tell me this isn't insanely similar.
This just reinforces my original thoughts of how BTC works.
It's an algo. It's been printing this exact same pattern for years if you look for it.
Note
Just something I'm working on..
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