Hi,
I don't usually do forecasts as my strategy doesn't take profit in that way, but the way bitcoin moves is so interesting that i wanted to take a closer look. I am also not advising anyone to use this as exact trading advice. There is a lot more to think about than this and personally I move a stop under the lows to protect profits and to ride out the trend if goes further than predicted.
The chart explained:
Non logarithmic scale:
Let's see if it plays out again in the future!
Mark
I don't usually do forecasts as my strategy doesn't take profit in that way, but the way bitcoin moves is so interesting that i wanted to take a closer look. I am also not advising anyone to use this as exact trading advice. There is a lot more to think about than this and personally I move a stop under the lows to protect profits and to ride out the trend if goes further than predicted.
The chart explained:
- So here it looks like the peaks in the price happen at every 50%-60% increase. Once the price has passed the peak the peak becomes support.
- Around the 50% point between the peaks there is also an area of buying pressure
- I also have a go at explaining the reasons behind these moves. Although, it's only really possible to make assumptions about this.
Non logarithmic scale:
Let's see if it plays out again in the future!
Mark