Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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For some time i've been wanting to try to visualise the waves that the different period/wavelength charts produce to see if I could understand the wave pattern interference, which I presume is what Elliott Wave theory provides the analytical key to. Sadly i'm too stupid to understand what the wavelength of each chart is, so i have been drawing a blank. How long does each period chart take to cycle? I know the answer is probably so simple that it's ridiculous but a lot is going on in my life and i'm not that bright, so perhaps someone can shed some light for me?
Whilst pondering the subject i think i have spotted an arc on the RSI chart over the past approximately four months but perhaps i'm imagining it?
Comment
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And here is a speculative drawing of a much smaller scale arc, which if true would suggest a continuation of the bear trend from 20k ATH and 17k more recently). However, it could be entirely coincidental and non-predictive as a result. Any comments on this topic of visualising waves would be really interesting to me.