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Zoen_Trieste
May 8, 2020 2:11 PM

BTCUSD: Up by 200% By 30.05.2020 Long

Bitcoin / U.S. DollarGemini

Description

The above chart illustrates how a 63% decline is beat by a 200% increase within 3 ensuing months. Buying into weakness seems reasonable.

Comment

8.2k dip is a good limit buy area

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BTCUSD Lower Timeframe Entry
A classic bullish divergence at key 8.2k potential demand area

Comment

Another hidden bull in entry timeframes

Comment

Comments
BoundsieBoy
Hi @Zoen_Trieste, hope you don't mind a question from a newbie to tradingview. I'm curious about the Gann style pale rhombus boxes / cycle components you have drawn on the chart. Did you construct these line by line using the standard Trading view drawing tools as guides, or is there a custom tool somewhere that does that?

Also curious about how you arrived at the time period for the largest rhombus? Is that taken from a prior swing?

Thanks
Zoen_Trieste
@BoundsieBoy, hi. Thanks for reaching out. I used the Gann Box tool to draw the boxes. The time period depends on the price to bar ratio. I am using $5 per 20min here.
BoundsieBoy
@Zoen_Trieste, thanks very much. Your chart really helps see the cyclical components. I think this is going back to the all time highs :)
RamboBTW
That makes sense
alienteck
Since BTC always dips before a rise, anything is possible.. But the last dip was a tad too much?
Zoen_Trieste
@alienteck, it was an aggressive move linked to a extraordinary plunge in the world stock markets. The noteworthy thing here is the exceptional recovery of BTC, which outperformed basically all other asset classes including gold.
alienteck
Gold is not for making money.. But to keeping your money.. A huge difference.. And also only over time.. But in the US they play it like a stock and with paper.. Which it is not.. This is why most people dont bother looking at gold prices but when they hear it fell a lot etc they go to buy it.But they dont run off to sell it when ever they hear it has gone up.
Zoen_Trieste
@alienteck because it never runs up tenfold within couple of years. The urge to book profit is much greater when you’re up 1000% than when you’re up 50%.
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