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$BTCUSD Chart: Predictive Analysis | #BTCUSD #BTC #USD #bitcoin

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
1245 3 8
$BTCUSD Chart: Predictive Analysis | #BTCUSD #BTC #USD #bitcoin


Friends,


Most of the technical components we use at 4xQuad to establish our predictive analyses are included in the chart. In essence, the market for BTCUSD             remains bullish , and this is based on a BULLISH reversal confirmation we were able to define in a recent analysis.

This is not to say that some stop-loss sweeping and price unwinding won't happen, but the parameters we have defined for ourselves are those highlighted and shared with the TradingView.com public, courtesy of 4xQuad.com (yes, we have to credit our group for this work).

TECH-NOTE:

RSI has maintained a market conversion to the bullish side, and based on the recent unwinding in RSI/price, the market has not only been able to maintain itself in a bullish range, but also confirm a market reversal to the bullish side.

Volume spikes have been accompanied with bullish pinbars for the most part, underscoring a market interest to not only accumulate, but also maintain price buoyant above the structural levels highlighted in the chart.

In a smaller scale, we recently released a low support definition at 884.75, submitting this level as a potential Great White pattern completion (proprietary pattern of 4xQuad.com), potentially pointing to a level underwhich this bullish market could threaten a conversion to a neutral-to-bearish bias.

While price has been hoisted to current levels and occasional volume spikes continue to sweep low-fruit stop-losses, one has to pay particular attention to the morphology of the candle as its timeframe (here, 4-hour candles), conclude to a green of up-right pinbar - Pay particular attention to these associated with unusually HIGH volume spikes.

Highlighted also in the chart is a "Expected Reversal Zone", which offers a defensive range where we remain bullish in our directional bias. However, as indicated above, a breach below that low range (estimated at 884.75) could convert the market to a neutral-to-bearish stance - This can only be established once the situation is reevaluated given the data at that point.

The "Directional Bias Line" is not drawing a pathway along which price would rise, but instead points to our persistent expectation that price would rise to the levels defined. A primary target, TG-1 = 1190.44 and a high-target, TG-High = 1238.10, are the levels at which we expect a significant resistance, but this would require price to rise above certain structures.

Said structures of significance are the highs carved out around January 06th, 12th and 15th, whereas lesser structures might exist when considering a smaller timeframe. However, we chose to share this 4-hour chart as it provides a better evaluation of aggregate activities.


OVERALL:
Chart remains bullish provided that the technical conditions defined above remain true. More will be provided if and once any technically significant event occurs, although given our set of defined logic above, we trust that you might also anticipate when we would emit a new or contrary opinion to our current directional bias.

Cheers,


David Alcindor | 4xQuad.com

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David Alcindor, CMT Affiliate #227974
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lix
2 years ago
Reversal zone is hit now, let's see how it goes !
Reply
MartyMcBuyBuyBuy
2 years ago
so far its working
Reply
@kittercoin - The chart is time-stamped on January 17th - I defined the reversal zone right at the moment price touched what was defined as the upper border of the "Expected Reversal Zone" - The chart above is a frozen frame of the moment the zone was defined - Thank you for your query. David Alcindor | 4xQuad.com
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