AriaDayman

SEXY TANTRIC SYMMETRY ENDS BEFORE SWITCHING TO HOT NEW POSITION

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This is a deliberately simple chart. This distorted and skewed symmetry from recent months seems to be coming to an end soon. It is by no means a reliable precedent but the last time symmetry from the March high ended we set our medium-term bottom down in the mid-6's and travelled to knock on the 10K ceiling- some swingers more than doubled their money just by holding ETH or BCH for a month. This is an interesting and bizarre pattern to look at because finding the middle of it (ironically, the middle was around 6/6) seems to dictate where something will eventually shift and change by tracing the patterns to its end. Is it completely meaningless? I don't know. I tend to think that the February bottom was too quick / merely a test, the April bottom was barely enough accumulation and if this does end up being a bottom soon it may give us sideways action lasting longer than we expected... which could also lead to failure and capitulation instead of another prolonged rally. I'm sharing this only because I see it.. not because it gives me direction. No advice here! Just some fun ideas as everyone is now wanting to turn bullish . I do believe we deserve more accumulation in the 4-7K range before any sort of legitimate bull run can occur but don't assume we're going to get it. I am very open to to seeing this becoming a bottom. Is there anything better than a swinger showing you his or her bottom? ;)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.