Update from my previous posts following BTC path through this consolidation period:
- the most likely zone that the markov transition states pointed to has been the exact area where this has traded
- BTCUSD now needs to decide on the next state - the yellow shaded rectangle is the most probable where this will trade from here
- has 2 previous resistance trendlines (light red and light green) that it recently broke above and is showing to have support now at those trendlines, so this next anticipated zone makes a lot of sense
In my initial post covering this stochastic phenomenon I layed out the premise that as n-parallel boundaries increase from base, the probability of breakout or breakdown increases. BTCUSD has positioned itself slightly in favor of breakout - has yet to commit to either.
Regards,
The Wonderful Wizard
- the most likely zone that the markov transition states pointed to has been the exact area where this has traded
- BTCUSD now needs to decide on the next state - the yellow shaded rectangle is the most probable where this will trade from here
- has 2 previous resistance trendlines (light red and light green) that it recently broke above and is showing to have support now at those trendlines, so this next anticipated zone makes a lot of sense
In my initial post covering this stochastic phenomenon I layed out the premise that as n-parallel boundaries increase from base, the probability of breakout or breakdown increases. BTCUSD has positioned itself slightly in favor of breakout - has yet to commit to either.
Regards,
The Wonderful Wizard
Comment:
Expecting a bullish break of the dashed light blue line directly above current price this morning, and then an explosive run the the horizontal dashed black line (around 30800) by end of day.
