Ungovernable

Ungovernable

According to the monthly On Balance Volume from '13 through '17, it took 1065 days for it to reach and break higher than 2013's OBV high and 182 days after that to revisit & bounce out of that zone indefinitely. Between '17 and now, we saw the OBV reach 2017's high again at 1065 days, and we've since revisited it and, again, we are breaking 182 days now. This puts...

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Ichimoku, RSI, OBV currently in line with January since breaking below. Lots of characteristics that match - I vote 32.1k and we move up from there.

Ungovernable

Refer to last idea for description, but unlike last time we broke out of the triangle, we have more bullish data to support a successful retest of it. So... call me crazy, but I don't think we'll visit much lower than the time of this post. Don't take it up with me, take it up with the data.

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You can draw lines all day but it's the data underneath the price action you need to uncover. Volatility, price action, and volume look pretty similar across the board between now and successful retests of a upside pennant breakout. The one thing that leaves me questioning the success of this retest is the OBV. On Balance Volume is a cumulative value that adds the...

Ungovernable Updated 

Following 2017's ATH, capitulation made a similar wedge type that was broken to the topside, then broke the high of the wedge before falling on top of that same wedge before reaching its local demise. I sum this formation we're in at the moment as a M-midtrendline break-W formation. We form an M, where the bottom points start a trendline that we fall beneath and...

Ungovernable Updated 

Figured at some point we'll make another leg down further to 25k or so. Timing has been most difficult. The pennant is closing in. The pennant is starting to droop downwards, which is the sign that it's almost over; however, that often means one more attempt up. We may be looking at one more attempt to break above around 37.5k, but ultimately, I see Bitcoin...

Ungovernable Updated 

Small TF reversal into ascending M formation where the tail end curls up into a scallop making the bullish ascending scallop pattern. Likely we see the top of this wedge, break out, get rejected by the 40k again, and continue up for a few days after that small correction is over. Time will tell.

Ungovernable Updated 

We're seeing a similar structure whip up to the recovery of January's dump and into February's pump. The resistances are the same, the pattern is relatively the same, the data is the same. Just watch the underlying data such as RSI & MFI to care for any discrepencies.

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Seeing a lot of bearish signs particularly now with the completed H&S. With the bearish sentiment, the bearish charts, & the obvious H&S spooking everybody into shorting - I expect another flash crash when all those shorts close at the same time. 24k may be conservative considering the above. Depending on the severity of a flash crash, 20k may be a more accurate number.

Ungovernable Updated 

Based on February's descent. Used as comparison based on similarity in most recent structure.

Ungovernable Updated 

The last 2 cycles had ATH's in the first week of December; however, the way they got there was very different from each other. According to the halvings that followed each cycle, we reached ATL 546 days and 518 days in the last 2 cycles, and each cycle took 364 and 413 days to reach that ATL from the blowofftop ATH's. That would put our projection for an ATH of...

Ungovernable Updated 

I'll write down the seed.

Ungovernable Updated 

Zoom in and keep an eye on that red line when we meet it. Rejection from it may result in a strong turn downwards and onto supports given by the January waves. Nothing is over until we drop below any of the support given during January - so don't fret. Every whale on Earth will be buying before that's met.

Ungovernable Updated 

Any good impulse up takes time to crash down before resuming it's way up. Just look. This happened several times on the way to the top of the 2017 market. This time is going to be no different. We visit 43k and maybe lower, but gotta take it one day at a time.

Ungovernable Updated 

This is a picture perfect 2017 scenario that we've been long overdue for. On the way up to the blow-off top in 2017, we touched the bullmarket support band 2 times. We have yet to touch it. The OBV or on balance volume is coiling up similarly, the RSI has been diverging similarly, and the recent price action has been dropping similarly. If there is a time to...

Ungovernable Updated 

We've visited the Bull Market Support Band at least three times during our last two bull markets. So far, we've yet to touch it this market cycle. There's been bearish divergence talked about for months, and it's finally starting to kick in. Plan on some ups & downs, but be ready for a revisit to the Bull Market Support Band . Play carefully, there's more...

Ungovernable Updated 

Placing a fib from the low following a cycle to the ATH of that same cycle, the 1.618 of the NEXT cycle has historically been the most consistent & biggest crash before a blow off top.

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Fibs check out, patterns check out, we're looking at 43k or 33k if this patterns tests out like 2017 before it moonshots to a blowoff top. Not all patterns repeat exactly, but the data is indicating that we'll be visiting a new levels that'll make you wish you were pulled out. One thing no one seems to pay attention to is OBV. It's been decreasing ever since Feb....