Bitcoin Weekly Price Tracking

I'm just posting this weekly chart for future reference. I created a long term moving average channel that tracks very nicely the last bottom as well as the past tops. The idea would be to prepare to take profits between the upper red and white boundaries when volume has spiked indicating a top and to accumulate again between the lower green and white lines when volume again spikes to indicate a bottom. Everything in between the red and green zones is for the day traders, short term swing traders, speculators, and price chasers. I will never sell all of my Satoshi but I do plan to take a little profit at the top of this cycle and then reaccumulate twice as much at the next bottom. This strategy only works for the extremely patient. (4 year cycles) If your idea of investing is buying today and flipping for a profit by tomorrow then this strategy is obviously not for you. :0)

Good luck!

BBS Out!

Note

Below is the BLX chart for Bitcoin using the same indicators but over the entire live of Bitcoin charting. As you can see these running averages would have probably done well to capture the earlier tops and bottoms as well.

Note

Here is another view of the same moving averages using a line chart for price (blue line) instead of candles and I also added the 21 Week EMA (purple line). If this works as expected it should be very easy to see when the Bull Market is topping out or the Bear Market is bottoming. :0)

BitcoinBearSlayer

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