It's been a while since I zoomed out and looked at BTC LONG term. With all of the volatility going around I've been caught up in identifying short term signals.
To get a better understanding of what is happening on the chart, move your curser over the anchors. Start from the left and work your way over to the right.
What I have identified over LONG TERM, is that a parabolic cycle has the tendency to return to/just beneath their starting point. It happens within 10-12 months after the top of the parabolic has formed. How do I know this? It has been confirmed 3 times in the past 3 years. The RSI is added for confirmation on the top of the parabolic cycle.
Am I saying we are about to plummet down now? NO
Am I saying that you cannot make money over a 1-year bearish dominant trend? NO
What I am saying is that according to RSI , it is likely that we have reached the top of this parabolic cycle and according to history over a 3 year timespan, there is a HIGH PROBABILITY that over the next few months we will return to the bottom/slightly beneath where the current parabolic cycle started.
Note that short term scalp profiting is possible even in a bearish trend .
Note that we MIGHT go higher in the short term, this chart is focused on LONG TERM.
Best Regards and thank you for watching,
BlockTechEv
To get a better understanding of what is happening on the chart, move your curser over the anchors. Start from the left and work your way over to the right.
What I have identified over LONG TERM, is that a parabolic cycle has the tendency to return to/just beneath their starting point. It happens within 10-12 months after the top of the parabolic has formed. How do I know this? It has been confirmed 3 times in the past 3 years. The RSI is added for confirmation on the top of the parabolic cycle.
Am I saying we are about to plummet down now? NO
Am I saying that you cannot make money over a 1-year bearish dominant trend? NO
What I am saying is that according to RSI , it is likely that we have reached the top of this parabolic cycle and according to history over a 3 year timespan, there is a HIGH PROBABILITY that over the next few months we will return to the bottom/slightly beneath where the current parabolic cycle started.
Note that short term scalp profiting is possible even in a bearish trend .
Note that we MIGHT go higher in the short term, this chart is focused on LONG TERM.
Best Regards and thank you for watching,
BlockTechEv
