lets observe this daily chart with some indicators of the last year and see the reaction. some things to point out to support the argument
first the pivot. purple lines. CPR (central pivot range) every single one has been tested. the next one is coming in around mid 12ks
next is a reversal indicator similar to TD sequential but more accurate because it counts current candle and not just prior. the purple dots at the top indicator reversal near.
next is the ppo price percentage oscillator the wave looking thing at the bottom. generally has called correct top and bottom areas. as well as the line TKE which is an algo average of the 8 most popular oscillation tools such as rsi stoch mom and others
last is the yellow dots at the bottom. Godmode dots. twice signalling local top. still without correction
Finally the fear and gree index and in general the main sentimental charts of others on trading view have gone very bullish in a dangerous place
Some people are calling for something called a "Christmas rally" which is no doubt a comparison of 2017. and there are plenty of arguments that is is NOT the same at all. Factors including ICO craze. Chinese involvement of then but less now. (futures settlements in that 2017 time were 95% in rmb) along with other markets in general. the state of the world. the fact that this time is is NOT a blue sky breakout like it was before. Tether manipulation. coming elections. and bitcoin is very very far from having a high peak of trending in search results and data.
But anything can happen. that is just my two cents.
It could have a fakeout first. generally if you see bitcoin going to that coming monthly H3 14.3 area it will more than likely be a fakeout with a large crash down to new monthly pivot. if it opens up and goes right to coming L3... it may be a good bounce to buy if it holds without testing topside first
first the pivot. purple lines. CPR (central pivot range) every single one has been tested. the next one is coming in around mid 12ks
next is a reversal indicator similar to TD sequential but more accurate because it counts current candle and not just prior. the purple dots at the top indicator reversal near.
next is the ppo price percentage oscillator the wave looking thing at the bottom. generally has called correct top and bottom areas. as well as the line TKE which is an algo average of the 8 most popular oscillation tools such as rsi stoch mom and others
last is the yellow dots at the bottom. Godmode dots. twice signalling local top. still without correction
Finally the fear and gree index and in general the main sentimental charts of others on trading view have gone very bullish in a dangerous place
Some people are calling for something called a "Christmas rally" which is no doubt a comparison of 2017. and there are plenty of arguments that is is NOT the same at all. Factors including ICO craze. Chinese involvement of then but less now. (futures settlements in that 2017 time were 95% in rmb) along with other markets in general. the state of the world. the fact that this time is is NOT a blue sky breakout like it was before. Tether manipulation. coming elections. and bitcoin is very very far from having a high peak of trending in search results and data.
But anything can happen. that is just my two cents.
It could have a fakeout first. generally if you see bitcoin going to that coming monthly H3 14.3 area it will more than likely be a fakeout with a large crash down to new monthly pivot. if it opens up and goes right to coming L3... it may be a good bounce to buy if it holds without testing topside first