BTCUSD 2 week cycle
I'm still very new to analysis and not yet actively trading. Just getting practice making calls to see if I'm right. Feedback welcome! I'd love to hear some tips and tricks from more seasoned traders and what you think of my analysis.
I noticed a very similar pattern first on LTCUSD:Coinbase this morning (see related ideas). I don't think it's necessarily as solid on BTCUSD:Coinbase but it's there nonetheless.
I'm focusing strictly on a possible 2-week cycle and what looks to me like a mid-way repetition through that cycle, as well as the interaction with the cloud.
1. Purple box: Downward trend after a rise for roughly 5-6 days.
2. Yellow box: Playing in a range, letting the cloud swoop down on top of it.
3. Pink circle: Testing the bottom of the cloud a few times, getting restless in the range.
4. Green box: Sharp spike upward, big volume buying. We need a lot of momentum to break through this thick cloud.
5. Blue box: Steady upward trend toward the peak around the 61% fib.
Will history repeat itself? It will be interesting to find out!
I noticed a very similar pattern first on LTCUSD:Coinbase this morning (see related ideas). I don't think it's necessarily as solid on BTCUSD:Coinbase but it's there nonetheless.
I'm focusing strictly on a possible 2-week cycle and what looks to me like a mid-way repetition through that cycle, as well as the interaction with the cloud.
1. Purple box: Downward trend after a rise for roughly 5-6 days.
2. Yellow box: Playing in a range, letting the cloud swoop down on top of it.
3. Pink circle: Testing the bottom of the cloud a few times, getting restless in the range.
4. Green box: Sharp spike upward, big volume buying. We need a lot of momentum to break through this thick cloud.
5. Blue box: Steady upward trend toward the peak around the 61% fib.
Will history repeat itself? It will be interesting to find out!
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