Bitcoin is playing "bad ass". With a good repeating pattern breakout or volume gives a clear signal. Could have done with a lower fractal low - didn't get it. Could have broken upwards on break of downward diagonal trend lines - didn't get it. Currently Bitcoin looks like just waiting to break higher. I've added a study of the first day of the month volatility extended 11 days for every month since January as I did on my other day chart posted earlier.
EXTRA NOTE
John McAfee bitcoin prediction $15,000 for June isn't crazy but clever. Here is my take on it - NO SIGN YET THAT IT'S GOING TO PLAN!!!
Using H & L Week 25th Dec 2017 and H & L Week 1st Jan plus Low 6th Feb 2018: 17,252-11,651=5601; 5601/17252=32.46%; 17,252-6000=11,252; 11,252/32.46%=346.64;
Using H & L Week 7th May 2018 and H & L 14th May 2017 plus Low 29th May 2018: 9,677.9-7,925=1,752; 1,752/9,677.9=18.11%; 18.11*346.64=6,278.41
If he gave me a free bet and I had a choice of either 9,677.9+6,278.41=15,956.31 or 7,925+6,278.41=14,203.41 or 7,040+6,278.41=13,318 by 24th June I'd place it on the 13,318. Like with many predictions market could also go the same amount the other way if things went bad so max would be 9,677.9-6,278.41=3,399.49.
NOT ADVICE ALL DISCLAIMERS APPLY DO YOUR OWN RESEARCH
EXTRA NOTE
John McAfee bitcoin prediction $15,000 for June isn't crazy but clever. Here is my take on it - NO SIGN YET THAT IT'S GOING TO PLAN!!!
Using H & L Week 25th Dec 2017 and H & L Week 1st Jan plus Low 6th Feb 2018: 17,252-11,651=5601; 5601/17252=32.46%; 17,252-6000=11,252; 11,252/32.46%=346.64;
Using H & L Week 7th May 2018 and H & L 14th May 2017 plus Low 29th May 2018: 9,677.9-7,925=1,752; 1,752/9,677.9=18.11%; 18.11*346.64=6,278.41
If he gave me a free bet and I had a choice of either 9,677.9+6,278.41=15,956.31 or 7,925+6,278.41=14,203.41 or 7,040+6,278.41=13,318 by 24th June I'd place it on the 13,318. Like with many predictions market could also go the same amount the other way if things went bad so max would be 9,677.9-6,278.41=3,399.49.
NOT ADVICE ALL DISCLAIMERS APPLY DO YOUR OWN RESEARCH
Comment:
For my above calculations I used the turquoise (light blue) zones in my charts. For explanation how I create the zones check my other postings like 12 May on the daily chart.