I have good news and bad news for ya and I hope you are excited to hear all about it. Well, are you ready? here it comes...
Good news: Gaussian Channel on weekly Turned Green
Bad news: It does not mean anything what so ever!!!!..... and let me elaborate a bit about the whole thing.
1. The fact that some rare occurrence is taking place bears absolutely no relevance with future expectations. As you might have heard already, past performances by no means are predictors for future outcomes.
2. As a predictor of the Gaussian Channel being green is a horrible indicator. For Pete's sake, it stayed green till October 2018..... If not the capitulation in BTC price it would have remained green, forever and ever.
3. I can just as easily select 2 rare EMAs that rarely come close to each other for example 1000 and 2000 on weekly and celebrate like a fool start of the new bull market cycle every time they golden cross and give a call to the wonderful artist and the father of the Fib Circles of death and capitulation every time these lines go to the death cross mode. My point here is that the fact that something turned green does not mean diddly squat.
4. Gaussian Channel is an unreliable indicator of start as well as finish and we should probably avoid giving it too much significance if anything at all.
Now take a look at the indicator that I have included in my chart. Impact by Umul Ozkul . This oscillator looks at the price and combination along with major EMAS and gives a snapshot of where we are in terms of the market dynamics. As you can see when the signal line is above zero it shows great promise of prosperity and when it goes under Zero it indicates that the party is Freaki'n OVER! As you can see this signal line phenomenally predicted the start of the bull market and without delay has notified traders and investors that the party was over back in January 2018. It did not wait all the way to October 2018 to give us the bad news like Gaussian Channel.
Forgive me this unsolicited rant. I just felt like I had to address this hipe around BS one way or the other.
Anywhooo... Please stay safe people, and have a productive as well as a lucrative week.
happy trading and best of luck!