- NOT ADVICE - Just Prediction
Green represents where I anticipate being comfortable buying, White is a greedy spot to buy/hodl, and Red is where I'd be more comfortable selling.
Orange is my fun zone, the buckle up and hodl zone, the Charlie "I cut the brakes, bitches!" Wildcard zone.
The euphoric highs of December bring many to predict very low bottoms (5k, 4k, even some say under 2k) and the continued volatility allows for a lot of swing trades to profit in the next days before mob-mentality market sentiment returns to bullishness. The real shadow of the precipitous drop in mid-December may provide lingering resistance through mid-April, possibly even to mid-May.
My RSI trendline is on a 3 hr chart, which some would say is too short a timeframe, but this market moves QUICK. The trendline drawn down from the peak in December crosses the 50% line between 2-13-2018 and 2-14-2018, and now we are seeing bullish MACD crosses. The weekly RSI made it down below 50%, and given the magnitude of attention attracted last year, I expect this commodity/currency/asset to maintain elevated demand to carry it back up the RSI scale towards overbought.
Large moves at the moment may be met with resistance, and I'm betting price over time gravitates towards the intersection of the Schiff forks drawn out here, hence the "threading the needle".
I post this for my own record, and figure it mightn't hurt to show you all while I'm at it. If you have any questions or comments beyond "this is way too complicated and speculative to be of any real value" I'm happy to hear it.
Good luck out there!
Green represents where I anticipate being comfortable buying, White is a greedy spot to buy/hodl, and Red is where I'd be more comfortable selling.
Orange is my fun zone, the buckle up and hodl zone, the Charlie "I cut the brakes, bitches!" Wildcard zone.
The euphoric highs of December bring many to predict very low bottoms (5k, 4k, even some say under 2k) and the continued volatility allows for a lot of swing trades to profit in the next days before mob-mentality market sentiment returns to bullishness. The real shadow of the precipitous drop in mid-December may provide lingering resistance through mid-April, possibly even to mid-May.
My RSI trendline is on a 3 hr chart, which some would say is too short a timeframe, but this market moves QUICK. The trendline drawn down from the peak in December crosses the 50% line between 2-13-2018 and 2-14-2018, and now we are seeing bullish MACD crosses. The weekly RSI made it down below 50%, and given the magnitude of attention attracted last year, I expect this commodity/currency/asset to maintain elevated demand to carry it back up the RSI scale towards overbought.
Large moves at the moment may be met with resistance, and I'm betting price over time gravitates towards the intersection of the Schiff forks drawn out here, hence the "threading the needle".
I post this for my own record, and figure it mightn't hurt to show you all while I'm at it. If you have any questions or comments beyond "this is way too complicated and speculative to be of any real value" I'm happy to hear it.
Good luck out there!