befunkt

BTC Too fractal to be fractal

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This is a swing trader's dream come true!

I thought this was a natural rebound off the bottom of the downtrend, however on a closer look, BTC appears to be going through shock waves.
While I haven't been trading crypto all that long, I would be hard pressed to believe that this pattern is in any way 'natural'.

The top chart starts just before Feb 6th , and the bottom chart is the last 2 complete 'waves', + the half that we are currently in.
Zoom in to 5 minute candles on your own charts and the sharpness of the repeated pattern really comes out.

Measuring the time between each of the bottoms of these waves, we can see that they are roughly, in hours:
3, 6, 12, 18, 28, 52 hours apart.


Plenty of room for speculation, but in the mean time, I'm swing trading these things.


You don't want my advice. This is not trading advice. This disclaimer isn't even advice.

Cheers!
-B

Comment: If the pattern is continued, look for a peak of around $9025-$9075 two hours from now, which is roughly 10pm MDT (-0600).

This is NOT trading advice! =)
Good eye I will keep it in mind. I like looking at the traders with new ideas. What is the next one after this? we were adding 6 then 10 then 24..44? Dont forget volatility is coming, CBOE contracts expire on 14th.
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befunkt mycoinmoon
@mycoinmoon, Aha, interesting, difference of 3, 6, 6, 10, 24. Looks vaguely like a column from a combinatorics table... Bell polynomial or rencontres numbers, etc.

Yep! Got my finger on the trigger for when this pattern breaks.
To me this looks like whales (and/or financial institutions?) deliberately flattening out the volatility to either create a newer solid bottom, or prepare for some other big-boy exercise.

We'll see how long it lasts!
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