Hello Friends
I had trouble identifying any sort of pattern on this chart because of the spikes and whip saws. Previously I charted a failed Inverse head and shoulders pattern which had been of great disappointment but upon further investigation, I had noticed a pattern within the RSI.
Looking at the relative strength index in conjunction with the daily candles I had noticed that after BQX had spiked an unusual high it would quickly reverse and slowly retrace to oversold conditions (one exception after the ATH of late). The time frames are 6 to 7 weeks for this correction and oversold conditions would stay oversold for about 3 weeks before BQX would make a climb upward towards its high. The time frame from its low point to its high point is about 5.5 weeks. This has been happening ever since we have entered into this price channel, (nearing 10 months) August 2018 to this current point in time.
We have had 3 highs and 4 lows. The pattern is every second high is the highest high of the highs and what proceeds that is every second low is the lower low of the lows. The lowest lows seems to trigger the next higher high. The lower the low the higher the high will be. This fact can be seen on this chart. The last low/high was a low of 2530 to a high of 8728 sats. That is 344% return in profit "under perfect conditions".
Now my point, we are currently at a lower low and won't remain here for much longer "according to the pattern". I believe that the time has come for BQX to make an about face and take a slow climb upward to a higher high. My thoughts can be seen on this chart.
Details on the Chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
I had trouble identifying any sort of pattern on this chart because of the spikes and whip saws. Previously I charted a failed Inverse head and shoulders pattern which had been of great disappointment but upon further investigation, I had noticed a pattern within the RSI.
Looking at the relative strength index in conjunction with the daily candles I had noticed that after BQX had spiked an unusual high it would quickly reverse and slowly retrace to oversold conditions (one exception after the ATH of late). The time frames are 6 to 7 weeks for this correction and oversold conditions would stay oversold for about 3 weeks before BQX would make a climb upward towards its high. The time frame from its low point to its high point is about 5.5 weeks. This has been happening ever since we have entered into this price channel, (nearing 10 months) August 2018 to this current point in time.
We have had 3 highs and 4 lows. The pattern is every second high is the highest high of the highs and what proceeds that is every second low is the lower low of the lows. The lowest lows seems to trigger the next higher high. The lower the low the higher the high will be. This fact can be seen on this chart. The last low/high was a low of 2530 to a high of 8728 sats. That is 344% return in profit "under perfect conditions".
Now my point, we are currently at a lower low and won't remain here for much longer "according to the pattern". I believe that the time has come for BQX to make an about face and take a slow climb upward to a higher high. My thoughts can be seen on this chart.
Details on the Chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
Comment:
Just a matter of time and patience. We will hopefully see this spike very soon, 1 or 2 weeks.
