I certainly get the point you're making, along with KWA below. Although this probably occurs the majority of time it's still nowhere near 100% accurate, obviously as with almost everything else.
But, a lots happened recently on many fronts, too much time to mention everything but I think you get gist of examples such as news, sentiment, correction period, etc. And most importantly, shorts very high and we are closing in on end and the end of downward channel, at the same time as 4th year end quarter begins, which I think flips the odds.
So yes, while probability says you're both probably right, my gut says you're not (this time anyway), because it's just not the right time for this market to go dormant for the next 8-12 months. I hope anyway.
NoNameGraph
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@TheLuckyNoob, At the moment we have not closed the weekly candle, and the situation may change on Sunday evening, so I can't deny that you can be right :)
no offense intended, but I certainly hope I am right on this one and ur wrong. If not I'll be eating ramon noodles for the next month or so. GL to u and thanks for sharing ur idea.
BitcoinBearSlayer
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I was looking at something similar on my charts. Every Green Week Peak followed by a Red Week had no less than 2 down Red Weeks in a row.
But, a lots happened recently on many fronts, too much time to mention everything but I think you get gist of examples such as news, sentiment, correction period, etc. And most importantly, shorts very high and we are closing in on end and the end of downward channel, at the same time as 4th year end quarter begins, which I think flips the odds.
So yes, while probability says you're both probably right, my gut says you're not (this time anyway), because it's just not the right time for this market to go dormant for the next 8-12 months. I hope anyway.