Bitcoin and the 5-day Gaussian channel

Some funs facts. (Bears, you’re not going to like this).

A new bull market began when..

1) Price action has entered the Gaussian channel following strong bullish divergence. Look left.

AND

2) A strong buy signal printed. (Not shown but it has)

If you see price action consolidate around $22.6k during the month of January then reserver the bearish bias. This consolidation will be inside the channel. What happens next is not a mystery.

Ww

Comment:

Typo: 'Reverse the bearish....'

Comment:

The 5-day candle has confirmed. Not seen such a strong move since April 2019. The bear market is well and truly over should price action remain in this area by the end of the month.

5-day chart

On the 10hr chart price action is clearly overbought. A correction to <$20k should be expected near-term but will be short lived.

10hr

Comment:

Time to go short?

Time to ignore the risk and look at the possible reward??

Comment:

Well bears whether you like it or not price action has now printed a higher high.

Comment:

It is incredibly fascinating to see the 2019 fractal play out bar for bar one month to the day since it was drawn, 20 days since publishing.

As per the recent ‘life cross’ idea on the daily chart just as was in 2019, price action now faffs around in the middle of the Gaussian channel on this 5-day chart. Then from no where price action rips up, sends the $10k bears fleeing in terror, the leveraged ‘short’ day traders reaching for the MacDonalds job application forms (Horrible burgers by the way), and the Youtube moonboys calling for targets you can only see with the James Webb Space Telescope.

Be calm, be patient, be without worries.

Ww

5-day

Comment:

Not changed this drawing since it was published last. Fascinating isn't? Look left!

The next move in price action will astonish everyone except those following WW ;)

5-day

Trade active:

Price action on support, safe to be long from here.

Trade active:

Still bearish?

Today's fact of the chart:

Price falls out the bottom of the 5-day Gaussian channel. Price action enters the channel. At no point in Bitcoin's price action history did those two events NOT lead to a new bull market. Look left.

5-day

Comment:

Remember this just from a little over a month ago? Read the comments also from that date below 'still bearish', 'Economic does not support this', 'You're just trying to give people a false sense of hope'. What are those folks saying now? The exact same thing. When the tune changes it will be the best sell signal. If you quickly look up tradingview charts forBitcoin you'll see many 'short' ideas. Even just read 'Here's why I think bitcoin will drop to 8K', my goodness.

Has anything changed for this idea? Nothing. Nadda. As was mentioned in the last update when price action enters this channel, look left. At no time in history did new upward price action not print.

The million dollar question, where does it move to and when?

5-day

Comment:

According to this 5-day chart, price action falls under the HVWMA (blue circles) proceeds a downtrend in the near term. That's okay. There is no sell signal before it, therefore it is likely a correction to the top of the Gaussian band plays out as it did before (red circle). This would see price action fall to 25k before continuing the larger uptrend.

Comment:

I tell my patrons to stay on 2-day chart, and this chart below really spells out why. What a beautiful fractal. There's so much going on here. If you see a bounce on the 2-day Gaussian channel AND the 2-day/50ma AFTER a 2-day life cross then the most 'hated rally in Bitcoin's history' is about to become a whole lot more hated ;)

Comment:

The most powerful signal not seen since October 2020 just printed.

Will say what elsewhere.

Comment:

A new 5-day candle prints tomorrow. Should the current candle close as is (bullish engulfing) then the bear case is for Bitcoin is as dead as a dead thing with dead bits on it.

5-day

Trade active:

As per last update a bullish engulfing candle did indeed close on support. The bear case for price action is now as dead as Julius Caesar and just as irrational.

The next resistance is straight forward to forecast, around 40k.

5-day

Comment:

27k is the entry price.

As price action is in a bull market... price action will not enter the channel on the 5-day and continues to find support there. A double bottom on the channel has never happened before looking left.

5-day

Comment:

Mmmmmm Bitcoin price action needs to close above 27k very soon. Price action has entered the Gaussian channel, IF a 5-day candle closes here + confirmation, then price action is going no where for the next year. This is what has happened before throughout price action history for this asset.

5-day