Short-Term BTC, Long-Opportunity Before Cycle Reversal
TLDR; short term LONG to 8180, then SHORT from there to 6370
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Hi all,
So this is my first idea to publish on TradingView, and so I'm still testing out the website and how publishing on it works. This is just a test publication for now. Promise that the quality of the ideas will improve!
I've been working on a new model for the past weeks for BTC. It's HIGHLY experimental at this point. It's passed the back-testing stage but still need to forward-test it for a while before I release any details about it. Any predictions made by this model should be taken as "HIGH RISK"!!
Anyways, at the moment, the model SUGGESTS that we are:
1) At the end of a cycle
2) Have one leg up and then one down to complete the cycle
The yellow arrow is price movement so far. The blue arrows are predicted price movements over the next several days until the completion of the cycle. The pink arrows are the predicted price movements for the start of the next cycle, but I put them in a different color to highlight that the model would only solidify them once the cycle is actually complete.
NOTE!: The LONG prediction is invalidated if price goes below 6940!!!
Also, it should be noted that the leg down to 6400 breaks the current uptrend. Always pay attention to trend lines.
Please do not consider this financial advice. Make sure to make your own research and analysis at all times. Do not take advice blindly from strangers on the internet.
In Strength,
Krios
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Hi all,
So this is my first idea to publish on TradingView, and so I'm still testing out the website and how publishing on it works. This is just a test publication for now. Promise that the quality of the ideas will improve!
I've been working on a new model for the past weeks for BTC. It's HIGHLY experimental at this point. It's passed the back-testing stage but still need to forward-test it for a while before I release any details about it. Any predictions made by this model should be taken as "HIGH RISK"!!
Anyways, at the moment, the model SUGGESTS that we are:
1) At the end of a cycle
2) Have one leg up and then one down to complete the cycle
The yellow arrow is price movement so far. The blue arrows are predicted price movements over the next several days until the completion of the cycle. The pink arrows are the predicted price movements for the start of the next cycle, but I put them in a different color to highlight that the model would only solidify them once the cycle is actually complete.
NOTE!: The LONG prediction is invalidated if price goes below 6940!!!
Also, it should be noted that the leg down to 6400 breaks the current uptrend. Always pay attention to trend lines.
Please do not consider this financial advice. Make sure to make your own research and analysis at all times. Do not take advice blindly from strangers on the internet.
In Strength,
Krios
Comment:
So I wanted to write an update on this (I mean, everyone updates their ideas here, or so it seems)
But, there's really nothing to update. The idea is still perfectly in play and nothing has really changed. Only thing I can say is, always take profit along the way?
But, there's really nothing to update. The idea is still perfectly in play and nothing has really changed. Only thing I can say is, always take profit along the way?
Comment:
So, literally less than 30 seconds after I wrote the last non-update, price pumped to 7590. Yup, still in play. Good place to book some profits too...
However, the massive bounce we witnessed should make us more careful (could be an artificial pump to shake out some bears and trap some bulls).