#Bitcoin Buy zone between $7,271.3 and $6,745.1 (8 to 12 day Bear market from May5. Day 7 = May12)
THE FOLLOWING IS WHAT I POSTED APRIL 30:
April30 #Bitcoin key to next big move here's why.
--------> April30 Turquoise (light blue) shaded areas in my chart are formed whenever you get a consecutive day with either green or red vertical bars in my MACD . A green vertical is formed when you get a green candlestick but MACD bar drops. A red vertical is formed when you get a red candlestick and MACD bar rises. This has only happened five times this year. Each time except one occasion had you gone with the break out you win. On the occasion it didn't happen the market closed up one day out of the range and then reversed the next day to close down below the previous day's open and continued down in that direction. Good idea or not?
THE FOLOWING IS THE RESEARCH ON STATS JUST CONCLUDED CHECK THEM OUT FOR YOURSELVES - Guess work involved just an idea and not to be taken as advice etc.... (standard disclaimers)
(25/1 26/1 Box) 28/1 - 6/2 (10 days) $12,190 - $6000 = $6,190 ($6,190/$12,190 *100 = 50.8% Box volatility $1,458/$12,190 *100 = 11.96%)
(10/2 11/2 Box) 11/2 - 20/2 (10 days) $11,788 - $7,851 = $3,937 ($3,937/$11,788 *100 = 33.4% Box volatility $1,223.9/$11,788 *100 = 10.38%)
(21/3 22/3 Box) 21/3 - 1/4 (12 days) $9,177.5 - $6,425.1 = $2,752.4 ($2,752.4/$9,177.5 *100 = 30% Box volatility $727.5/$9,177.5 *100 = 7.93%)
(5/4 6/6 Box) 6/4 - 15/4 (10 days) $8,458 - $6,500 = $1,958 ($1,958/$8,458 *100 = 23.2% Box volatility $437.8/$8,458 *100 = 5.18%)
(18/4 19/4 Box) 18/4 - 25/4 (8 days) $9,767.4 - $7,870.5 = $1,896.9 ($1,896.9/$9,767.4 *100 = 19.4% Box volatility $426.9/$9,767.4 *100 = 4.37%)
(28/4 29/4 Box) 5/5 - ? (7th day and counting) High $9,990 - Low $*,*** ? (.................................................Box volatility $815.1/$9,990 *100 = 8.16%)
I'm thinking Box volatility is key to next buy zone
(10/2 11/2 Box) 11/2 - 20/2 (10 days) $11,788 - $7,851 = $3,937 ($3,937/$11,788 *100 = 33.4% Box volatility $1,223.9/$11,788 *100 = 10.38%)
(21/3 22/3 Box) 21/3 - 1/4 (12 days) $9,177.5 - $6,425.1 = $2,752.4 ($2,752.4/$9,177.5 *100 = 30% Box volatility $727.5/$9,177.5 *100 = 7.93%)
Current (28/4 29/4 Box) - Box volatility $815.1/$9,990 *100 = 8.16%.
I look at a drop from $9,990 of between $2,752.4 and $3,937 and then look for best support levels (I decided $6,053 was way too low and picked $6,745 higher up instead). You could try doing it by percentage drop i.e. 33.4% or 30%.
THE FOLLOWING IS WHAT I POSTED APRIL 30:
April30 #Bitcoin key to next big move here's why.
--------> April30 Turquoise (light blue) shaded areas in my chart are formed whenever you get a consecutive day with either green or red vertical bars in my MACD . A green vertical is formed when you get a green candlestick but MACD bar drops. A red vertical is formed when you get a red candlestick and MACD bar rises. This has only happened five times this year. Each time except one occasion had you gone with the break out you win. On the occasion it didn't happen the market closed up one day out of the range and then reversed the next day to close down below the previous day's open and continued down in that direction. Good idea or not?
THE FOLOWING IS THE RESEARCH ON STATS JUST CONCLUDED CHECK THEM OUT FOR YOURSELVES - Guess work involved just an idea and not to be taken as advice etc.... (standard disclaimers)
(25/1 26/1 Box) 28/1 - 6/2 (10 days) $12,190 - $6000 = $6,190 ($6,190/$12,190 *100 = 50.8% Box volatility $1,458/$12,190 *100 = 11.96%)
(10/2 11/2 Box) 11/2 - 20/2 (10 days) $11,788 - $7,851 = $3,937 ($3,937/$11,788 *100 = 33.4% Box volatility $1,223.9/$11,788 *100 = 10.38%)
(21/3 22/3 Box) 21/3 - 1/4 (12 days) $9,177.5 - $6,425.1 = $2,752.4 ($2,752.4/$9,177.5 *100 = 30% Box volatility $727.5/$9,177.5 *100 = 7.93%)
(5/4 6/6 Box) 6/4 - 15/4 (10 days) $8,458 - $6,500 = $1,958 ($1,958/$8,458 *100 = 23.2% Box volatility $437.8/$8,458 *100 = 5.18%)
(18/4 19/4 Box) 18/4 - 25/4 (8 days) $9,767.4 - $7,870.5 = $1,896.9 ($1,896.9/$9,767.4 *100 = 19.4% Box volatility $426.9/$9,767.4 *100 = 4.37%)
(28/4 29/4 Box) 5/5 - ? (7th day and counting) High $9,990 - Low $*,*** ? (.................................................Box volatility $815.1/$9,990 *100 = 8.16%)
I'm thinking Box volatility is key to next buy zone
(10/2 11/2 Box) 11/2 - 20/2 (10 days) $11,788 - $7,851 = $3,937 ($3,937/$11,788 *100 = 33.4% Box volatility $1,223.9/$11,788 *100 = 10.38%)
(21/3 22/3 Box) 21/3 - 1/4 (12 days) $9,177.5 - $6,425.1 = $2,752.4 ($2,752.4/$9,177.5 *100 = 30% Box volatility $727.5/$9,177.5 *100 = 7.93%)
Current (28/4 29/4 Box) - Box volatility $815.1/$9,990 *100 = 8.16%.
I look at a drop from $9,990 of between $2,752.4 and $3,937 and then look for best support levels (I decided $6,053 was way too low and picked $6,745 higher up instead). You could try doing it by percentage drop i.e. 33.4% or 30%.
Comment:
I would switch to long on retrace through $9,157.55 that's 50% of H/L of my turquoise (light blue) rectangle on the chart. Then again now the market is down by so much I'd probably currently switch to long if price turned up or closed above May12 open.
Comment:
CORRECTION regarding count of days.
Saturday May 12 is 8th day and not 7th day in an 8 to 12 day bear market which began Saturday May 5th with high of $9,990.
Saturday May 12 is 8th day and not 7th day in an 8 to 12 day bear market which began Saturday May 5th with high of $9,990.
Comment:
Just repeating a copy of my idea posted on somebody else's posting:
The way I see it is that Bitcoin's technical expansion from the Aug 2016 low to Dec 2017 high did not form any consecutive weekly fractal highs or lows. This year Bitcoin is off to a good start again from Feb 2018 low and probably in the midst of a soon to be confirmed weekly fractal high followed by a weekly fractal low. I believe we are in an 8 to 12 day bear market which began May 5 and which will end over the next 4 days - Sun, Mon, Tue, or Wed max. Then hopefully away we go smash through $9,990 create the next weekly fractal high further up. Of course a lot can happen in the meantime to wreck my idea. Next week's Consensus event may help. NOT TO BE TAKEN AS ADVICE (ALL USUAL DISCLAIMERS APPLY)
The way I see it is that Bitcoin's technical expansion from the Aug 2016 low to Dec 2017 high did not form any consecutive weekly fractal highs or lows. This year Bitcoin is off to a good start again from Feb 2018 low and probably in the midst of a soon to be confirmed weekly fractal high followed by a weekly fractal low. I believe we are in an 8 to 12 day bear market which began May 5 and which will end over the next 4 days - Sun, Mon, Tue, or Wed max. Then hopefully away we go smash through $9,990 create the next weekly fractal high further up. Of course a lot can happen in the meantime to wreck my idea. Next week's Consensus event may help. NOT TO BE TAKEN AS ADVICE (ALL USUAL DISCLAIMERS APPLY)
Comment:
Where's the Incoming bunker busting bear? Do you know how many days it took last time to blast through $8,211 and $8,161.7 of concrete?
Comment:
Less than three hours from now. Timing just for fun (NOT TO BE TAKEN AS ADVICE ALL USUAL DISCLAIMERS APPLY)
Comment:
Is that a bear pennant? There are so many flipping coloured lines on my chart it's hard to see anything coming.
Comment:
Been thinking since morning whether the points I would go long should be lowered a bit, even been drawing some new downward trend lines but then I'm thinking what news on Mon, Tue, or Wed next week could keep the price down? Will sit on the side line for now. If price touched a Bollinger band set at (20, Close, 3) on 2hr chart that could interest me outside of what's already on my Day chart.
Comment:
Tough decision 2 hour chart top Bollinger was $8,762.333 and price made it to $8,760 that's $2.333 short.
Comment:
I think they only got that close because of the price drop near the end.
Comment:
Is that a bear flag 2hr chart Top from 8631.7 to 8760 and Bottom from 8204.4 to 8218.2 ? Price looking like its going to break lower.
Comment:
Largest Asian four hour drop since last Monday May 7th.
Comment:
Incoming bunker buster flag just broke,
Comment:
Waiting for follow through. Could develop instead into a rising channel.
Comment:
If price breaks through supports, and looking at a bear flag then price could be heading below $7,600.
Comment:
Good thing I didn't fall for the sneaky cheat with the top Bollinger earlier on the 2 hour chart. You'd only have seen it if you'd been watching - as price was going down towards the end it pulled the Bollinger line down towards the high but never touched - like a fisherman hauling in a monster fish with a rod and hook (didn't fool me) HA HA.
Comment:
Bulls have taken hold. Maybe that earlier Bollinger joke is going to have the last laugh on me which must be a good bullish sign in itself. This 8 to 12 day bear could be over. I'm going to wait till end of day as my work is focused on the day chart.
Comment:
Market in lower timeframes appears to be caught in an upward channel. Has touched several points along the upward path so far which included that last high. If it breaks higher than that upward path well...... .
Comment:
Copy of most recent post
#Bitcoin $10,956 plus by end Wed May 16 Y/N?
Previously market was looking at a drop from $9,990 of between $2,752.4 and $3,937. Looks like the 8 to 12 day bear market ended on the 8th day and that the drop won't be as great as the rise back up through the last daily fractal high by the 12th day. So I'm now thinking the reverse from $8,204.4 that would be $10,956 plus by end Wednesday ($8,204.4 + $2,752.4 = $10,956). Given market $8,825 high already today it's not impossible especially as were in Consensus 2018 week, and WOW what good news is coming out from there.
At the moment price appears to be caught in an upward channel. I expect price to break upward from that rather than down to new lows.
How I worked out these figures see my previous post "#Bitcoin next buy zone between $7,271.3 and $6,745.1"
Of course a lot can happen in the meantime to wreck my idea, but all looks clear for the time being.
REMEMBER NOT TO BE TAKEN AS ADVICE (ALL USUAL DISCLAIMERS APPLY)
#Bitcoin $10,956 plus by end Wed May 16 Y/N?
Previously market was looking at a drop from $9,990 of between $2,752.4 and $3,937. Looks like the 8 to 12 day bear market ended on the 8th day and that the drop won't be as great as the rise back up through the last daily fractal high by the 12th day. So I'm now thinking the reverse from $8,204.4 that would be $10,956 plus by end Wednesday ($8,204.4 + $2,752.4 = $10,956). Given market $8,825 high already today it's not impossible especially as were in Consensus 2018 week, and WOW what good news is coming out from there.
At the moment price appears to be caught in an upward channel. I expect price to break upward from that rather than down to new lows.
How I worked out these figures see my previous post "#Bitcoin next buy zone between $7,271.3 and $6,745.1"
Of course a lot can happen in the meantime to wreck my idea, but all looks clear for the time being.
REMEMBER NOT TO BE TAKEN AS ADVICE (ALL USUAL DISCLAIMERS APPLY)
Comment:
My call long may have been wrong in this 8 to 12 day analysis of previous market action. MACD bars are in the minus area, and price has not broken higher though important Fib and trend lines as expected. Could head down for a new low, and global financial markets could also impact today.
Comment:
Had market already hit $9,000 that would have been great.
Comment:
I note a divergence in yesterdays bar. By that I mean whenever closing price and MACD bars close in different directions (marked with either green or red verticals in my MACD chart - have added a green to Mon. May14). If today market closes above or below yesterdays high or low then todays open $8,670.8 i.e. the day after open can be a useful stop loss trigger if the days following reverse and close above or beneath it. This stop loss idea is still a work in progress, but one of the ideas I'm keeping in mind while Bitcoin appears stuck in a holding position up from lows.
Comment:
As admitted to earlier my go long plan B may have been wrong in this 8-12 day analysis of previous market action. MACD bars in minus, and not broken higher though important Fib and trend lines as expected. Could head for new low. Global markets could impact. Had market already hit $9,000 then better.
It's hard not to be thinking plan A the short right now aided by Global markets.
It's hard not to be thinking plan A the short right now aided by Global markets.
Comment:
One more day to go and the market move is still a minimum $992.4 shorter than the stats predicted. Price still appears to be caught in an upward channel but now at the lower end.
Comment:
Today the percentage of Bitcoin traders net-long is now its highest since May 04 when Bitcoin traded near 9653.15 well one more day to go.
Comment:
Upward channel looks broken by bears now or under pressure.
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Just touched the lower Bollinger (set at 20, close,3) on 2hr chart very often a directional signal
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Today the percentage of traders net-long is now its highest since May 05 when Bitcoin traded near 9782.48.
Comment:
My 8 to 12 day bear/bull analysis (tweets May 11 & 14) of previous market action ends today Wed May 16. The analysis may not have delivered expected volatility but when this bear ends, next bull run may need repeat like two consecutive down fractals made between Mar 23 & Apr 1 which were followed by Apr 3 retrace and Apr 6 confirmed support.
Comment:
Copy of my most recent post
#Bitcoin going cautiously long, Consensus 2018, saw the low Y/N?
During, Consensus 2018, I'd say bulls won on points (market held up well).
Global markets could impact but there are loads of places to put stops in.
Better way of putting it "Bitcoin, Consensus 2018, bulls won on points (time spent above weekend low). Bitcoin now set to go higher, but not while rattled by current global markets and events.
#Bitcoin going cautiously long, Consensus 2018, saw the low Y/N?
During, Consensus 2018, I'd say bulls won on points (market held up well).
Global markets could impact but there are loads of places to put stops in.
Better way of putting it "Bitcoin, Consensus 2018, bulls won on points (time spent above weekend low). Bitcoin now set to go higher, but not while rattled by current global markets and events.