Tinkering that could predict new altcoin prices
Whenever a coin is new or making parabolic momements the retail consensus seems to assume there's no TA that can really predict where the price is going. And while that might be true, due to some few stubborn chartists or "market manipulation" by those who were lucky enough to have high liquidity in the protocol (start laying the way for the game), it seems that the first two candles on the hourly view can point in a general direction where the price will be going.
I'm not trying to make anything new here, and if it has already been done, please tell me the name so I can forget about all these lines! I'm just publishing it so I can have some social accountability and see it viability for future projects.
The logis is simple: From those few first bars, draw a trend line from their O, H, L, C, to each of the next candles where it seems to have support or resistance, and then curiously enough the future price might follow these arbitrary consensus?
One obvious caveat... Your chart gets messy FAST.
I'm not trying to make anything new here, and if it has already been done, please tell me the name so I can forget about all these lines! I'm just publishing it so I can have some social accountability and see it viability for future projects.
The logis is simple: From those few first bars, draw a trend line from their O, H, L, C, to each of the next candles where it seems to have support or resistance, and then curiously enough the future price might follow these arbitrary consensus?
One obvious caveat... Your chart gets messy FAST.
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