Bitcoin linear 2019An idea with a linear chart as a noise removal technique.
First, let's address the term "Noise" , in a broad analytical context, noise refers to information or activity that confuses or misinterprets genuine underlying trends.
If we strictly speak in a technical context, noise is simply all the price data that distorts the picture of the underlying trend this includes mostly small corrections and intraday volatility.
This a linear chart where the price source used is the average of the four most relevant points for a given time frame.
Price source = (O+H+L+C)/4
The ellipses highlight the periods of lower volatility where the price dynamic narrowed its price range previous to a post-expansion.
In the larger ellipses, this kind of dynamic lasted around 7-9 weeks.
Note:
I find the potential of this chart for having a macro perspective.
Weekly scale ≤ recommended scale ≥ daily scale
Chart BLX weekly scale BraveNewCoin Liquid Index for Bitcoin
Bitcoin2019
BTCUSD Ascending Broadening Wedge/Falling Wedge 8.1k-8.6k BottomBTCUSD Ascending Broadening Wedge/Falling Wedge 8.1k-8.6k Bottom
- Two Alternate Ascending Broadening Wedge Formations Drawn with decline leading into bullish Falling Wedge formation.
- Breakouts downward of ABW at ~10400 or ~9800.
- Per Bulkowski, average decline of Ascending Broadening Wedge is 17%
- Targets ~8640 and ~8140, respectively.
BTC/USD : Will the History Repeat itself? (6K SOON)April 25 Dropdown from 5500 to 5100
There is some similarity between 2017 and 2019 in the way in which we bottomed from $5k->3k 2017 and broke back to $5k.
I Have checked more than 24 Charts of #BTC today. Most are in a mindset of history to repeat itself.
Charts history confirms that we are in a look-alike scenario like 2017 : 2019 in the way we bottomed from
5000 to 3000 and then broke back to 5500. However: We can't forget the fact that things were moved 10x faster in 2017 then 2019 Due to Regulators, Tether FUD. etc.
So we can't expect the market to act like it's acted in 2017. If you do - You will be punished by the bulls or bears.
If you follow the market since 2019, you were witnessed to a clear path of a bear market. In the last 2 months, we finally
broke the prices range of 4000 a few weeks in a row. This testifies that the bear market is over. at the same time, Never say never. in crypto: everything can happen.
As I see it now. The cards are still on the table. The Bears is relaxed, the Bulls is in the lead. I would say. 51% to the bulls
50% to the bears. Right now it's will be not responsible to decide which way I should go: long or short. I would wait for 5600 to broke and then place my long
order. Other than that - I will not take any action yet until I have a clear picture.