4xForecaster
Long

Update (GOX) - The 4-Digit Choo-Choo Train That Could? #Bitcoin

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
512 6 5
Friends,

I just posted a #BTCUSD chart that belonged to the BTC-e exchange, but that's because it's being traded on this and that and other exchange, and quite frankly, from our little tree house here, we simply look through the trees, stick our fingers in the air and simply state where the prevailing winds will blow. In other words, the exchange does not affect our predictive analyses and forecasts.

In the case of this BTCUSD/GOX, our bullish bias remains unchanged, as it was for the BTCUSD/BTC-e exchange (see that other chart here and targets here: https://www.tradingview.com/v/IN1toJWk/).

A narrow positive divergence is underway at the moment, and if complete, we would expect a strong and sustained materialization of our forecasts. In the case of any adverse excursion, 895.32 remains still a respectable reference to concern bulls and gently awake the sleepy bears. However, we are not near this, and the scenario ahead is that of a "little engine that could", on its way to fit its fourth digital wheel and roam among grazing bulls in the grassy knolls ahead ... Or is it simply too naive?

Cheers,


David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
Denver, Colorado USA


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Disclaimer: All of our analyses are for educational purpose only. The forecasts, analysis and opinions generated herein are not trading recommendations. Want to trade? Then, do your own due diligence first, seek professional advice and enter the market at your own perils - 4xQuad, LLC.
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

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CryptoBanker
3 years ago
What type of analysis do you use to derive your targets? Thanks
Reply
4xForecaster PRO CryptoBanker
3 years ago
Hello @ CryptoBanker - Predictive analysis using layered indicators. All directional bias decisions as well as depth of forecast/target definitions are made independent of the price and price field.

Price is used at the end only as a "physical anchor" so to speak, with targets expressed in relative value to the anchors in the field - A bit abstract, but it works quite well on pretty much any moving priced asset: Forex, metals, indices, stocks, ... etc.

David
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CryptoBanker 4xForecaster
3 years ago
Sounds interesting! Is this proprietary or is there somewhere that teaches how to do this? An author perhaps? It sounds much better than lagging indicators which I've grown quite tired of lol. Thanks for your reply.
Reply
4xForecaster PRO CryptoBanker
3 years ago
Prop.
Reply
4xForecaster PRO CryptoBanker
3 years ago
@CryptoBanker - Authors that have influenced the methodology are:

- Constance Brown: Advanced concepts in indicators from her book about professional traders.
- Welles Wilder: RSI, although I have done years of research and I tried to contact him last year. He declined to comment on anything market-related. I joined his Delta Society, but it did not do the trick

Sorry for being so vague on this.

David
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CryptoBanker 4xForecaster
3 years ago
I see. Welles Wilder is a legend in the TA community, I bet he's not the easiest guy to get a hold of for commentary! I will follow your ideas with interest either way. I have accumulated a small number of forward-looking predictive techniques myself over the years I've spent trying every indicator under the sun, but I don't have it assembled in a clear step-by-step system yet.
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