TVMarketGod

BTC Sitting at $10k over Summer 19 - Bears Coming this Fall?

BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
Chart applying MarketGod v7 Sell Signals since beginning of 2018.

Overview:
  • There have been 7 Sell Signals since Jan 2018. The appear to be 100% on accuracy - but this can be due to HA input. We address our work around for this on the chart.
  • Average price change after a Sell Signal from MarketGod v7 is roughly -26%
  • Average of length of downtrend after a Sell Signal from MarketGod v7 is roughly 30 days.

If the sell signal from MarketGod v7 follows the trend of the others shown here since 2018, we will see $7.6k toward the end of September or early October.

We are not calling for this move, but applying the logic calculated by our tool. Note the tool does not succeed 100% of the time, and a factor that could be a major difference here is that in our current consolidation, we are sitting above a 1W support and it could potentially hold.
Trade closed: target reached: The bears indeed came for the fall.
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Comments

You freakin called it. Let’s see the next predictions ;-)
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congrats, hit 7600 Plus area
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Hoping this is wrong but we'll see!!!
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I would take the structural length not the average, cus it looks like wer coming to an end of a local trend; however if we assume this a mini bear market i would expect the same. The sentiment is not the same imo there were many retailers now out of game and retail does not give attention cheap bitcoin, they love to see a long uptrend. Appreciated your work, thanks.
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Interesting to look at. Nevertheless, I find the statement based on an average little meaningful, since the big movements were in a clear down trend. Now we are a bit bullish again. Not the same situation.
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a bear market wouldn't be surprising...what is alarming to see is the 21 SMA breaking the 100 SMA on the daily last week. The last time this happened was
back on August 14, 2018, which then lasted for 6 months.

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