Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Hi there, friends. Hope all's well w/ you.
Today I'd like to share this view of Bitcoin's latest price swings, based on its 12H consolidation range structure, as provided by the Power Trend / Consolidation Indicator I've developed (currently in Beta testing phase).
So, what we see here: considering the distance between the upper consolidation limit (highest red line) and its Bias Threshold level (lowest green line), both labeled accordingly, BTC has been moving, approximately, by multiples of 25% of this distance (from 2 to 5x: 50%, 75%, 100% and 150%).
Based on this empirical measurement, we can anticipate some likely levels for next resistances / supports, in case market behaviour remains defined by the same underlying conditioners (which, of course, as technical analysts, we don't try to speculate about. We leave that to fundamentals analysts).
Naturally, these conditioners are not going to last forever, and we need to always be ready to recalibrate. Till we don't see a major change, we can use this sizing.
As for next moves: I keep a bullish bias, especially while we remain above 4D consolidation limit. But, locally, bears have some advantage, as we are below 1D and 12H consolidation limits, and also the full length of 1H consolidation (not in chart).
Let's see what happens. Math will help us navigate.