ChartArt
Long

Predicting the next Bitcoin bubble with Stoch RSI and DMI Stoch

BITSTAMP:BTCUSD   Bitcoin / Dollar
Obviously the Bitcoin price is currently in oversold territory - meaning the price can still sink a few US Dollar             lower, but the price dive shouldn't be as dramatic anymore like it was from $683 to $442 or previously from $1163 to $339.

Using two Fibonacci Time Zones interestingly the Coppock curve might reach a low area where the second Fib Time Zone (which started in Summer 2013 at the $63 pivot point) indicates a reversal point on September 14, 2014 (time zone line no. 3). The Directional Movement Index Stochastic and the Directional Movement Index Stochastic Extreme indicators both currently signal a buy cross during the time this chart was published (price at chart creation was $475).

P.S. The DMI             Stochastic was adapted for TradingView by user TheLark (https://www.tradingview.com/v/O50vyKmV/) and user ucsgears changed it to the Extreme version (https://www.tradingview.com/v/FfH0rDu3/)
Maddie
2 years ago
Wow man this is looking very impressive !
I expected the bubble to start @ 3 october 2014.
Lets see we're it takes us :)
Possible breakout @ 3 october 2014
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ChartArt Maddie
2 years ago
Thanks. I was surprised to even find buy signals in the weekly chart given that I only had a feeling that we are soon reaching the bottom. Even more interesting is that this aligns with your bullish chart idea, in case that we really do have a bullish breakout this year.
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oaksacorn ChartArt
2 years ago
You and Maddie have both produced interesting charts. Nice work. We are close here. I do think it will post a bottom before 10/3 but more muddling can always occur. I don't think so though.... as Maddie pointed out there are two pullbacks (note Stoch RSI) in this phase as opposed to the previous phases. We are close :-).
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oaksacorn Maddie
2 years ago
Maddie, you and ChartArt have both produced interesting charts. Nice work. We are close here. I do think it will post a bottom before 10/3 but more muddling can always occur. I don't think so though.... as Maddie pointed out there are two pullbacks (note Stoch RSI) in this phase as opposed to the previous phases. We are close :-).
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BTC_Daily.Pips
2 years ago
Thanks for sharing! What I have noticed, the exponential increase begins when Stoch RSI is around overbought zone, while DMI manages to get overbought and oversold during this period of time, by this logic, let us say it goes into the 800 zone, then a retrace into 600 (where DMI gets oversold again), then moon :D
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ChartArt
2 years ago
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UPDATE ONE. 6 DAYS LATER (September 9, 2014)
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Fasten your seat-belts. We are nearing this magic Fibonacci Time Zone no 2, which began in 2013 from the pivot point $63 Summer low to pivot point $1163 Winter high.

The DMI Stochastic Extreme indicator shows a tiny uptrend as divergence.

snapshot
Reply
ChartArt ChartArt
2 years ago
Actually we are already nearing Fibonacci Time Zone no three (3).

Fibonacci Time Zone two (2) was interestingly right before the bubble in May.
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