Parabolics, Channels, & EMAs: A Lineup
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For reference:
EMAs
21, 55, 50, 200
Yellow, Orange, RED, GREEN
Paying closer attention to the parabolic channel we've been in since the kick off enormous candle we received at the beginning of April, for the most part we've stayed inside it and when we veered outside, the correction was quick (within a week or so) to get back into the channel and keep following
Looking into the confluence of the channel, along with the Symmetrical Triangle which is forming.
This could also be argued as a Descending Triangle, but that would have the potential to violate the channel twice within a very short period of time which I place the odds of at <5%
Observing now the chart on the right which has another symmetrical triangle between the channel and the top edge of the other triangle.
First some history!
When the MIDTERM TREND HAS BEEN BULLISH
The 21 and 55 EMAs have crossed just before the 50 and 200 EMAs and historically when this has happened in the past there's a roughly 50% move upwards staying on top of the 21 EMA until the 21 EMA crosses the 50 EMA again.
Measuring the potential maximum percentage gains when this has happened in the past from midterm low to new high is usually at least a 75% increase in price (lastly noted at ~9200, which would estimate just above 16k).
This can be noted and measured at least 3 separate times since the beginning of April
May 2nd - June 4th
June 13th - July 1st
(July 3rd - July 13th, but this was in a midterm BEAR market so the effect was mostly negligible but still positive at roughly 5%)
And most recently
Aug 1st - ???
The confidence on this bull market is based on several points of fact in recent days and weeks:
Though I don't know what one might need much of a stop loss for in this market...
Good luck, happy trading, and as usual SET YOUR DAMN STOP LOSSES (but not too tightly (giggity))
EMAs
21, 55, 50, 200
Yellow, Orange, RED, GREEN
Paying closer attention to the parabolic channel we've been in since the kick off enormous candle we received at the beginning of April, for the most part we've stayed inside it and when we veered outside, the correction was quick (within a week or so) to get back into the channel and keep following
Looking into the confluence of the channel, along with the Symmetrical Triangle which is forming.
This could also be argued as a Descending Triangle, but that would have the potential to violate the channel twice within a very short period of time which I place the odds of at <5%
Observing now the chart on the right which has another symmetrical triangle between the channel and the top edge of the other triangle.
First some history!
When the MIDTERM TREND HAS BEEN BULLISH
The 21 and 55 EMAs have crossed just before the 50 and 200 EMAs and historically when this has happened in the past there's a roughly 50% move upwards staying on top of the 21 EMA until the 21 EMA crosses the 50 EMA again.
Measuring the potential maximum percentage gains when this has happened in the past from midterm low to new high is usually at least a 75% increase in price (lastly noted at ~9200, which would estimate just above 16k).
This can be noted and measured at least 3 separate times since the beginning of April
May 2nd - June 4th
June 13th - July 1st
(July 3rd - July 13th, but this was in a midterm BEAR market so the effect was mostly negligible but still positive at roughly 5%)
And most recently
Aug 1st - ???
The confidence on this bull market is based on several points of fact in recent days and weeks:
- The most recent bear market has been reasonably completed by retracing from 13.8 to 9.2 over the course of a few weeks, almost regardless of what low you're measuring by this should've hit very close to a Fib level (probably 0.5 or 0.618 for recent-ish lows in the previous months)
- Continuing devaluation and trade wars between the US and other countries such as China and Venezuela
- Increasing adoption and news coverage around Bitcoin and Crypto in general, mainstream news is picking up much more regular coverage and it's boosting us upwards at a decent pace
- The king reins supreme and is far away from it's current valuation even considering just 1 year away from today. The future is inevitably creepin' up on everyone else, we're still just the early profiteers of emerging technology which will see no less than 10x the current adoption rate in 10 years
Though I don't know what one might need much of a stop loss for in this market...
Good luck, happy trading, and as usual SET YOUR DAMN STOP LOSSES (but not too tightly (giggity))
ノート
Short Term Warning: We currently have a bearish divergence on the 4H so consider that when looking to make an entry (or a boost) in the coming periods. Layered orders would be the method I'd choose to get an excellent position in before the coming stormノート
There's been some news about Binance having a KYC leak recently.This is going to cause some FUD in the short term as well.
Following some wave patterns I'm going to put an order in around 11k to see if it plays out as expected. Usually they'll be three higher highs followed by a peak and then three lower highs.
I think we can all figure out where the peak was looking at the last 48 hours. It's likely we're finishing up lower high number one as we speak, ~700 difference between peaks that will decrease amplitude down with each wave with time until the FUD is done and the cycle is complete.
2 more to go.
ノート
Looking at the theoretical short term wave before rebound.I don't think 11k again is quite in the cards, but it's not impossible at this point.
I can't even say for sure if BTC will try to make the full wave before doing other things
This launch pad is heating up for some action in the next few days
This handle extension on the cup and handle has been intense with crazy price swings and volume (highest volume in the past 2-3 weeks was yesterday)
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