Just some crazy stuff I've been working on. Yellow in the Stoch RSI mark the Sundays. Rectangular grey zones marked above connect roughly with the morphology of the Stoch RSI patterns beneath. I then added some triangular grey zones. The rectangular grey zones with a fat arrow look similar because of the triangular grey zones within. The rectangular grey zones with fat hands also look similar because of triangular grey zones within but different from the other two. Then I'm thinking well how can I time the low using the daily, and can I pinpoint the exact day, and the answer is no way. There are probably three different ways using the Stoch RSI below, and probably as many using the price bars above. Need to add some other ideas into the mix.
Note
On May 12 I posted #Bitcoin Buy zone between $7,271.3 and $6,745.1 with a crazy max low of $6,053. Looking at my major chart with all the multi-coloured horizontal lines below $7,271.3 I got the upward diagonal trend line then below that $6,745.1 and then below that and not the orthodox way of calculating support and I got $6,500, $6,481, $6,425, $6,239, $6,000.Note
Was still watching the market when saw the price in last 15 minutes go above yesterdays opening price which is a key review or stop area. Interesting. Would have to close the day above it though. Stoch RSI was turning up a bit and if goes through or touches 20 i.e the lower of the middle band that would also be of interest looking back at previous short-term stats - would need to close the day like that.Note
Actually the Blue line in the Stoch RSI is registering just over 17 and if it ended the day like that it could be of interest because looking back short-term there is one occasion when it was enough.Note
Being doing some studies with the weekly chart and bulls need to hold May 24 low or worst case scenario I reckon $6,250/$6,200. Also, closing above $8,523 on the weekly chart will be a key future target. Not advice, all standard disclaimers apply.Note
Have posted amended "#Bitcoin work of art?" Feb 4th was Sunday not Feb 5th. Have amended shaded area to Feb 4th instead of Feb 5th and amended the yellow star position in my Stoch RSI.Note
Just to inform of my latest post#Bitcoin down to $6,700 here's a new bear idea.
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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.