BTC (Y19.P6.Video.C) Cont.Is the bottom in?Hi,
Welcome to my 3rd video which will be part of the series of the Bitcoin Macro trend.
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Note: I posted a Macro Level chart back in July this year that is doing a good job for the current price formation.
The logic of this chart is also used as a reference but I did not have time to explain it in this video but it supports my thesis with the bottom being in.
I will include that post in the next video as well, to explain why I think the price will move a certain way.
The logic for this chart below, posted back in July is that after parabolic run, we will naturally see a sell off at the top.
and then the price will drop back to the support zone where it all started from, the parabolic run. Here there is an already established channel.
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In this video I will be talking about the current trend and its structure and what my take is from a number of sources.
Hence this presentation is a compilation of ideas that I have taken from others and incorporated them with my ideas as well.
Unfortunately I ran out of time so I will need to continue this video to finish of with Moving Averages and the 3rd part, which is fib. channels.
This video quickly recaps the previous videos and covers the x2 Btc cycles that occurred with each cycle having 4 phases or stages.
Each stage identified with its parabolic advance which is supported by the RSI
phase 1 and phase 2 have a common support level, base trend line
so we are going to try to use this historical reference for today's chart
This video covers chart structure using fibonannci as a means to make sense of the chart, I will highlight key milestones and pivot points
with the help of pitchfork, fib fan, fib circle, fib extension levels
The last part of this video covers the MA method.
Using Ma, we get the bottom support line using the 50,100,200 weekly ma.
cross over represents a bullish momentum.
Previous Video Post
July 22 post, that is somewhat accurate for today's price structure and this post demonstrates why it works based on a no. of assumptions.
