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Start of a new week and bitcoin bulls will be thinking of a well known cycle around this time of the month. Stoch is oversold, price is below opening months volatility etc.... could they pull it off. Arguably it didn't work in July as it went the other way. Would need to touch $7,533 to make any dent in "dumb bear patterns". Price hasn't crashed through $6,750 yet maybe that's a good sign. I'm sticking with my short for now.
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I can't beat a machine learner using the above signals but here is an interesting observation - see what happens when the market makes two consecutive lows ending in round numbers after the MACD has gone below zero, and price breaks lower. Try it with highs in reverse as well going back to 22nd Dec 2017.
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Given todays awaited news announcement it's not worth me continuing to be short for now. Will those "dumb bear patterns" be destroyed this week, would be great.
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If there is no big news announcement coming out today I would have kept my short. Oh well. Always time to get back in.
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Flipping annoying back to short.
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My latest chart post shows key bull patterns:
#bitcoin bears need to break these dumb bull patterns Y/N
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Anybody comparing the first 17 days of August with first 17 days of December 2017 in reverse, or, with the first 14 days of September 2017. Unless price can reach a significant fractal high... watch out the next leg.
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Also don't forget as with all postings "NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH." @dRends35,
Felix000
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Your work looks great.
I've been doing some research on the weekly chart from week of 4th August 2014,
and unless price is above $8,972.5
and my custom MACD i.e Signal Line, Histogram, and MACD ( MACD: 6,13, Close, 31) are in positive territory,
I currently don't know how bitcoin could close above the weekly high of $12,190,
and it currently appears like it could also take six months or more to get from $8,972.5 to $12,190 - by which time the Signal Line, Histogram, and MACD could be showing positive.
The best we can hope for at present by the end of the year is bitcoin at somewhere between $8,972.5 and $12,190.
Given Bill Gates's Microsoft involment in last weeks ground breaking news I think some people in the Far East might smell a rat, and start thinking that bitcoin won't be the best performing crypto for much longer.
Weird thing is that you never hear on the news wire of anybody from the Far East like a Wall Street analyst or billion dollar whale hyping up bitcoin $50,000, $100,000, $250,000, $500,000, and $1,000,000. Bitcoin needs the Far East to start hyping bitcoin up as well.
Keep up the good work.
Note: a new low below that of 18 June would lower that figure of $8,972.5 but currently it's $12,190 - $5,755 = $8,972.5. The high of the week of 22 January is when my custom Signal Line, Histogram, and MACD were no longer all positive)