Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Before you read this TA please note this comes with the disclaimer that I am totally testing a theory here and it might turn out to be utter rubbish but hey, we’ll soon find out either way!
I’ve decided to combine my two loves of trading and astrology to see if I can find a correlation with moon cycles and price action. Now, I know this is already a thing and I’ve been trying to research Gann but… I hate math sooo….
This is my shortened version!
Ever heard the term “Mercury is in Retrograde”? What does this even mean? More importantly, what does it mean for Bitcoin?
I’ve researched back to the 2017 high and found that every time Mercury is in retrograde, Bitcoin has a fairly decent pullback at some point within this period. There was only one time I could see that we stayed in consolidation and that could be due to other planetary factors which are beyond my scope of understanding!
So let’s test the theory!
Mercury is in retrograde again as of the 18th of June - just days away!
Open your shorts now? No I don’t think so.
I’m not going to be trading this range right now but I am going to watch closely to see what happens.
XBTUSD right now still has a liquidity void to fill between 9896 and 10070 as well as below 9394 down to about 8640.
I currently have an ascending triangle within my larger wedge which give me the feeling that we may break up to the 10100 area to close that void before shooting back down.
We’ve had a number of wicks into the 9395 liquidity zone so I feel the next attempt will push through this and make it’s way downwards to start filling the lower liquidity void to 8640.
If we do reject off the 10100 area, I may open a short there but until then, I’m just watching on the sidelines.
Past Mercury in Retrograde dates to do your own research: 2017 2/12 - 22/12
2018 22/3 - 15/4 25/7 - 18/8 16/11 - 6/12
2019 5/3 - 28/3 - this one went sideways 6/7 - 31/7 31/10 - 20/11
2020 18/2 - 9/3
Next one 18/6 - 12/7 2020.
Over you you moon Gods!
Comment
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Hit the long target at around 10100 before a major retrace as predicted.
We've broken below the liquidity zone. I expect a small recovery before another drop to fill out the lower liquidity void to around 8600.
Interesting, I also had the idea that the invention of Crypto is linked to nature somehow. But I love Maths so yeah, it looks potentially bearish. Great work.
TradeTravelChill
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@charts34T, thank you for your feedback! I certainly hope it is linked :)
UnknownUnicorn4966627
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I support your theory! There is also a total solar eclipse on Jun 21. I've reviewed the lunar and solar (full and partial) eclipes of only 2019. Solar eclipses resulted in a significant rise and lunar eclipse resulted a significant drop. So based off your theory, I think we will drop during the beginning of Mercury retrograde, have a large spike during the solar eclipse, then continue to drop back down.
TradeTravelChill
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@phildavisjr, nice! I love that research! Thank you for sharing! Im definitely going to look into that also!