This is a quick idea of BTC on the short-term 4H time-frame. The Channel Up that has been trading on, has been particularly successful in providing the last accurate short-term buy, as you see on the chart below:
I mentioned then how the 4H MA50 (blue trend-line) has taken the role of the Pivot within this Channel Up, meaning that short-term traders/ scalpers can Buy near the Higher Lows trend-line and book profits on the MA50 and similarly Sell near the Higher High trend-line and book profits on the MA50.
At that time, I was interested in buying up to the next Higher High of the Channel Up and measuring the previous Higher Low-to-Higher High distance (September 08 - 19) proved quite accurate as symmetry seems to be having its way.
Assuming this symmetrical cycle holds, then the new Higher Low may be price on a drop similar to the previous Higher High-to-Higher Low distance (September 19 - 23), which was roughly -9.30%. Applying this to yesterday's High, puts the projected Higher Low around 10650. Personally I'd prefer a Low on or around the 4H MA200 (orange trend-line) around $10800, as a test-and-hold on that trend-line would solidify the longer-term bullish sentiment.
In addition, see how both the LMACD and RSI have again hit their respective Sell Zones. Even before the Channel Up emerged and the strong pull-back of September 02/03, those Zones (both Buy and Sell) have been quite consistent.
Do you agree that symmetry can again have its way on Bitcoin? Feel free to share your work and let me know in the comments section!
Please like, subscribe and share your ideas and charts with the community!
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I mentioned then how the 4H MA50 (blue trend-line) has taken the role of the Pivot within this Channel Up, meaning that short-term traders/ scalpers can Buy near the Higher Lows trend-line and book profits on the MA50 and similarly Sell near the Higher High trend-line and book profits on the MA50.
At that time, I was interested in buying up to the next Higher High of the Channel Up and measuring the previous Higher Low-to-Higher High distance (September 08 - 19) proved quite accurate as symmetry seems to be having its way.
Assuming this symmetrical cycle holds, then the new Higher Low may be price on a drop similar to the previous Higher High-to-Higher Low distance (September 19 - 23), which was roughly -9.30%. Applying this to yesterday's High, puts the projected Higher Low around 10650. Personally I'd prefer a Low on or around the 4H MA200 (orange trend-line) around $10800, as a test-and-hold on that trend-line would solidify the longer-term bullish sentiment.
In addition, see how both the LMACD and RSI have again hit their respective Sell Zones. Even before the Channel Up emerged and the strong pull-back of September 02/03, those Zones (both Buy and Sell) have been quite consistent.
Do you agree that symmetry can again have its way on Bitcoin? Feel free to share your work and let me know in the comments section!
Please like, subscribe and share your ideas and charts with the community!
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> AxelShadah
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