This idea is based on time sessions, frequency, geometry, some golden rule, and symmetry. Also to visualize the possibility of these intersecting points, I included a comp to S&P 500 -0.55% . With institutional investors and the chance of ETF approval, I believe this is close to what we can expect. While charting BTC -0.47% it's easy to get stuck on familiar patterns. If people expect the same drops and pumps, at the same time every year, they might get rekt.. The dots you see are resulting intersections from a combination of supports, resistances, time sessions, fib etc.. This is unconventional, but hopefully you find it thought provoking. Please look it over and feel free to discuss.
Once again, following the support curve below. Would be great for the price if it jumped above the black line or near the next intersection followed the next curve up.
colinj
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CBB, interesting take! I see you've got the major move occurring in October...starting this week. Love all the colors and balloons, looks like a celebration of sorts and certainly would be if we get the move you predict!
CaptBlackBeard
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@colinj, Thank you for the feedback. I've run through hundreds of chart ideas using different patterns, sine, time sessions, cycles, shapes etc.. in general they all have some interesting intersections mid October and November. Some of my charts look like a spaghetti map used for hurricanes. All in all, the price seems to range out about this time and then some nice breaks up with big drops and quick recoveries. Especially after 8k, and 10k. On this chart I saw a different patten that looked a tad less volatile. I wanted to fight it at first but because I'm so used to seeing the current seasonal pattern. BUT if this idea holds true, I think a lot of people will get burned if they believe its going to do the same December run up followed my 10 months of downhill movement.
colinj
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@CaptBlackBeard, i tend to agree. We haven't gone thru 10 months of consolidation only to get a couple of months of bull action. I'm not feeling the October move though, as i thought that would be more likely to occur in November, but it sounds like from your comments that November would fit the timeframes allowable in your model. Either way i'm set up now and just patiently waiting!
CaptBlackBeard
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@colinj, I think everyone is or should be watching for a strong push above 7250 - 7300 as a key hurdle in this window of opportunity. I expect the unexpected will happen after lulling everyone to sleep. At least that's what I would do as a mega investor. I feel there are some huge investors both institutional and retail that are waiting for confirmation. It's risky to be the first to pull the trigger but everyone wants to be a close second.