#crypto # bitcoin OMG here's why Y/N
In my last post Jul 17 my idea was that bitcoin could touch $7,764 by end of that week (July 22), and any later close above $7,926.8 could be a game changer, and after that more likely an attempted sell-off like earlier patterns. Well here we are, not a weekly close just yet but bitcoin has breached $7,926.8.
I am now thinking A & B marked on the chart is what happened last time one of my white lines was breached and put in strong resistance. Red upward sloping trend lines could be like last time a good place for a bounce, or, sell off.
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
Chart Key:
Top horizontal zone is volatility of week beginning April 30th because it’s a X2 multiple of the distance between Feb 19th fractal high and March 26th fractal low.
Lower horizontal zone is volatility of week beginning June 4th because it’s a X2 multiple of the distance between March 26th fractal low and April 30th fractal high.
White diagonal lines have been created whenever there has been a consecutive divergence e.g. two green candles with consecutive lower scores in the Histogram below (yellow).
Yellow arrows indicate the day after divergences when market closes outside the divergence candles.
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
Note my MACD settings are:-
Fast Length 6
Slow Length 13
Source: Close
Signal Smoothing 31
Default settings Trading View are:
Fast Length 12
Slow Length 26
Source: Close
Signal Smoothing 9
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.