Bitcoin recovered back into the shaded purple zone, which outlines my linear regression modeling.
This is a huge deal, as we had dropped out of the zone D in shaded purple, but quickly recovered and is on track to create the RS of an inverse HS model.
In my eyes the drop out of zone D, was a statistical outlier caused by bots and fear. Hence the very fast return to the purple zone.
But what do i know? This is my second day doing this ...
See my other charts.. "Bitcoin is going to Zone C".. I am most likely going to be wrong anyways.. but what if?..
Thanks for looking,
Glitch420
This is a huge deal, as we had dropped out of the zone D in shaded purple, but quickly recovered and is on track to create the RS of an inverse HS model.
In my eyes the drop out of zone D, was a statistical outlier caused by bots and fear. Hence the very fast return to the purple zone.
But what do i know? This is my second day doing this ...
See my other charts.. "Bitcoin is going to Zone C".. I am most likely going to be wrong anyways.. but what if?..
Thanks for looking,
Glitch420
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SERIOUSLY BITCOIN STOP FOLLOWING MY CHART. You are suppose to prove my chart WRONG! not RIGHT.
Seriously, now buzz off.
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Maybe? Maybe not..?Note
Testing my lower boundary... Note
This is fun... Note
Narrowed my wedge significantly. Maybe it will pop up soon..
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EXPLOSIONS INCOMING! (possibly.. but who am I to say it is..)Note
Do i get a gold star yet?.... I really have 0 experience in any of this.. Leave me alone bitcoin!Note
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We just tested my upper wedge boundary.Note
We broke to the upside of he wedge!!Hot damn.. Hypothesis one still holds..
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Testing new channel lower boundary...Note
Still testing new channel boundary... (i think?)..The trend needs to continue towards the RS in order to recover from the Statistical outlier we had earlier, IF H1 is to remain true.. it must hold to the channel and we must enter the right shoulder to complete the inverse HS pattern, so we can test it...
(but who am I .. to take such guess?..)
I guess we will find out..
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Looks like we are in the clear... Up, up and away!Note
We should aim for the Green arrow and the box it sits in or else we are probably going to back track...We must enter the RS near the middle or earlier.
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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.