A good visual to help you stick to your guns- It looks like it will be a wild ride for BTC over the coming months. The ellipse never lies. Anything below the bottom of the ellipse the plan is over. Price trickles out then capitulates quickly as the Bulls get scared and the Bears win. Price has been faithful to the ellipse so far. This is a good way to predict where price may be heading and give you an idea of the time period - July next year we may reach this high.
Please use caution when you trade - the plans I create are my thoughts based on past experience in the forex market, they are not advice.Feel free to donate BTC to my account if you happen to benefit from my plans.
Hey, nice graph and thx for your view.
You are also very close to the upcoming BTC movement.
The climb will be a little faster and a little higher though.
The next low is spot on but the next high will already be 6700 and we will be above 10k in December.
Did you use a log chart?
gillianpatrice
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@D4NN1_0C34N, Hi, No I didn't use a log chart - it was just a technique that I saw a very experienced hedge fund manager use.
D4NN1_0C34N
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@gillianpatrice, Try it again with log chart and you will have an easy time trading for the rest of the year :)
gillianpatrice
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@D4NN1_0C34N, Hi D4, can you explain how I do that please?
D4NN1_0C34N
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@gillianpatrice, At the bottom right of your chart, next to the current time.
Press auto first then log :)
D4NN1_0C34N
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@gillianpatrice, Oh I just realized your timeframe is until September next year. It is actually December this year.
gillianpatrice
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@D4NN1_0C34N, Oh - Thank you I will use the log chart from now on in- some of the indicators find it hard to stick when I am in that mode however.
D4NN1_0C34N
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@gillianpatrice, You can disable auto after you enabled log, so that you can scroll around like before.
Log doesn't make a difference in short term, but a huge one in long term.
It's for example the reason that a lot of people claimed today, "BTC downtrend is broken", which is not true, they just don't use a log chart :)
gillianpatrice
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@D4NN1_0C34N, Thank you that was a wonderful tip. Anymore?