First I want to say youre welcome to the shorts as I am publishing my first idea and its probably going to drop now that Im bullish. Secondly sorry to the longs for taking interest in btc as I am now going long. BTC seems to never go more than two years ish with out a fat retracement and well here we are. The real question is, when will it find a bottom? I made this indicator to study long time period charts but quickly threw it away because it was predicting btc to have a big dump. Well now we saw the dump and it respected the bottom line and even though its breaking the bottom line, the true bottom of the band is still being respected. I think that we can see BTC reach the center mean assuming the flawed idea of mean regression. I hope that you found this analysis interesting, thank you for listening. Now go out there and do the opposite of me because Im retail.
the bearish divergences are solid also but neglected to draw those in
peacefulLizard50262
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@TransitMan, than you for your time in testing this out! That is really solid of you! :)
TransitMan
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Bullish divergence forming on the daily with your new Volume RSI indicator :)
peacefulLizard50262
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@TransitMan, Im really excited to see how people like this new volume rsi indicator :D
TransitMan
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I'd like to see more of a weekly double bottom formation before getting too aggressive but there are plenty of weekly Oscillator divergences forming which make it worth adding in some risk capital here if you are in for the long term A move back to the highs is a 4x return I'm liking that
peacefulLizard50262
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@TransitMan, Thank you for your feedback. Its defiantly a weird reason to go long but I am trying it out. Its neat that everything else is showing a bottom here too. That being said, theres a lot of stuff going on in the world and I always say "If you can see the trend thats the end" lmao.