Today, we will look at the 2nd most important cryptocurrency in the world.
The logic I'm using here is: What are the characteristics of the current movement?
60% Decline / 250 days of drawdown / Kind of an ABC formation
After defining that, I changed the configuration to logarithmic to look for similar scenarios in the past, and I found 2 in 2016 and 2017. Both share similarities in terms of decline, duration, and shape. So if we are able to understand the transition on those two scenarios towards the beginning of new bullish movements, then we may be able to get ready to develop trades if everything is aligned with our filters.
My objective right now is to study those two and see if I see a clear pattern I can follow. This was a simple post that may be useful for those looking to create swing opportunities using historical data as a reference to understand WHAT we want to see.
Thanks for reading!
The logic I'm using here is: What are the characteristics of the current movement?
60% Decline / 250 days of drawdown / Kind of an ABC formation
After defining that, I changed the configuration to logarithmic to look for similar scenarios in the past, and I found 2 in 2016 and 2017. Both share similarities in terms of decline, duration, and shape. So if we are able to understand the transition on those two scenarios towards the beginning of new bullish movements, then we may be able to get ready to develop trades if everything is aligned with our filters.
My objective right now is to study those two and see if I see a clear pattern I can follow. This was a simple post that may be useful for those looking to create swing opportunities using historical data as a reference to understand WHAT we want to see.
Thanks for reading!