Eruption means here going high fast then plunging down. That's what I think has started to occur. Another eruption may occur also at any time (the second quake), but that is still really hypothetical so let the "price" "lava" falls down fist. (blablabla)
This is a very special analysis this time for 2 reasons. I'm doing my analysis on a 1-HOUR chart and
I'll make the analysis based on 2 new indicators I've created:
S4W Normalizer, and the S4W Velocity indicator.
Based on my analysis:
The sudden "pump" on price reaching 7800 USD has formed a wall. This is an opportunity for the S4W Normalizer indicator to bing a SHORT trading window, and to detect where the trade should stop.
There is 2 candidates for the stop, which are 2 revert-peaks I've framed in the S4W/Normalizer indicator. I think the price may go down to reach one of those 2 Stop candidates. The first one is more sure to be reached, the second one is more risky to be reached. but it may possibly goes below that level.
The S4W Velocity indicator has detected an upper peak that is a signal for a SHORT trade starting. I've drawn a vertical line to see where I would have place the real trade. I'm late in fact, so the trade started during that idea creation.
Conclusion: Bitcoin is still about to go down again, due to that wall that needs to be "stabilized".
I'm saying this to myself : "To say it short : short it now!!!"
So the current scenario for me is to stabilize that wall. How can a wall stands up without a real foundation. That's why I think the price should go down a bit, right now.
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PS: Don't take my words for granted. Analyze, re-analyze, then trade at your own risks.
PS2: If you like this analyze, please click the LIKE button. FOLLOW me also to get my latest ideas. Thank you.
PS3: The S4W/Normalizer indicator is a corrected price graph that enhance peaks positions. Compare that indicator with the price, you will see it follows the price but the HH,HL,LL,LH are placed on different levels that can be exploited. Drawing or seeking elliot waves, waves can be used surelt (I'm not a wave surfer)...
This is a very special analysis this time for 2 reasons. I'm doing my analysis on a 1-HOUR chart and
I'll make the analysis based on 2 new indicators I've created:
S4W Normalizer, and the S4W Velocity indicator.
Based on my analysis:
The sudden "pump" on price reaching 7800 USD has formed a wall. This is an opportunity for the S4W Normalizer indicator to bing a SHORT trading window, and to detect where the trade should stop.
There is 2 candidates for the stop, which are 2 revert-peaks I've framed in the S4W/Normalizer indicator. I think the price may go down to reach one of those 2 Stop candidates. The first one is more sure to be reached, the second one is more risky to be reached. but it may possibly goes below that level.
The S4W Velocity indicator has detected an upper peak that is a signal for a SHORT trade starting. I've drawn a vertical line to see where I would have place the real trade. I'm late in fact, so the trade started during that idea creation.
Conclusion: Bitcoin is still about to go down again, due to that wall that needs to be "stabilized".
I'm saying this to myself : "To say it short : short it now!!!"
So the current scenario for me is to stabilize that wall. How can a wall stands up without a real foundation. That's why I think the price should go down a bit, right now.
----------------------------------------
PS: Don't take my words for granted. Analyze, re-analyze, then trade at your own risks.
PS2: If you like this analyze, please click the LIKE button. FOLLOW me also to get my latest ideas. Thank you.
PS3: The S4W/Normalizer indicator is a corrected price graph that enhance peaks positions. Compare that indicator with the price, you will see it follows the price but the HH,HL,LL,LH are placed on different levels that can be exploited. Drawing or seeking elliot waves, waves can be used surelt (I'm not a wave surfer)...