Riding 50 week linear regression mean while squeezing toward the end of current wedge. Fib levels ATH/Local Low.
Support: Non-linear regression (labeled), 61.8%, and lower bound standard deviation -1.
Resistance: ~$10.8, $11.5
OBV testing trend line. RSI moving into oversold levels and primed for reversal from the looks of StochRSI (Not shown).
Using the Fib fan beginning on where I believe the bull run began in 2015, PA appears to be testing .786 fib fan retracement level, while OBV, RSI and Stoch RSI all seemed to be primed for reversal.
1. OBV bounce and...
The 2018 end of year close of $3,279.50 was based on 23.6% fib retracement using 2012 beginning of year candle close as low, to 2017 end of year close as high.
This is not a firm prediction of actual 2018 close, but used as possible low if PA continues downward.
This chart was simply to illustrate an assumed investment potential using the 6 year average price...
BTC is currently testing the 5700-5750 range. This is historically a strong support.
If it breaks below this, there is another strong support area at 5500. However, if we get there we're already in trouble because anything below ~6000 is not cost effective to mine.
If we break an close below 5500. Well...... lets hope it won't get there.
For the highlighted...
I think this because I have thought it thus it has been thunked and shall be thought by thinkers who thank they thunk that I have thunk about thinking as well.
Lets see where it goes, I feel like it'll be up up and away by AUG 5th.
To attempt to seem not 100% stupid, i'm addressing my Head and Shoulders screw up.
Still new to the game and for whatever reason decided that was a head and shoulders pattern. Identified upon posting that it obviously was not (I swear I know better), so I want to address it and repost before I begin getting the "Hey dummy, what you got the tiniest head on earth"...
BTCUSD : DAILY
Are we seeing a the clouds clear up??
If we fill out all of these scenarios we may see some serious recovery happen over the next month as we approach the tip of this wedge.
I am seeing a Head and Shoulders pattern possibly fill out here pending some ideal conditions:
- Stoch RSI double bounce, cross, and separation due to oversold condition...