Of late, I have been asked about Bitcoin, cryptocurrencies, and the likes.
Rarely, I am asked about blockchain, the technology behind all these (Red Flag here)
So, looking at the BTCUSD Weekly log chart since June 2012, I tested my customized system for entry points. This was to allow me to discern a decent Entry point for Bitcoin, and establish some risk management rules where it does not seem to apply.
The findings are interesting:
1. Entry points are well discerning as expected;
2. RPM corroborate entry points especially when there is a cross over above zero;
3. The marked cycles above demarcate (most of) the highs. Perhaps one overdue just now; and
4. There appears to be a larger upside, perhaps after some (rather significant) retracement/consolidation going into 2022.
Just to set the historical stage here and some broad expectations...
IMPORTANT NOTE: This is a historical review and my personal research for shared for educational purposes only.
Rarely, I am asked about blockchain, the technology behind all these (Red Flag here)
So, looking at the BTCUSD Weekly log chart since June 2012, I tested my customized system for entry points. This was to allow me to discern a decent Entry point for Bitcoin, and establish some risk management rules where it does not seem to apply.
The findings are interesting:
1. Entry points are well discerning as expected;
2. RPM corroborate entry points especially when there is a cross over above zero;
3. The marked cycles above demarcate (most of) the highs. Perhaps one overdue just now; and
4. There appears to be a larger upside, perhaps after some (rather significant) retracement/consolidation going into 2022.
Just to set the historical stage here and some broad expectations...
IMPORTANT NOTE: This is a historical review and my personal research for shared for educational purposes only.
