BTC Sitting at $10k over Summer 19 - Bears Coming this Fall?
Chart applying MarketGod v7 Sell Signals since beginning of 2018.
Overview:
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.
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.