Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Current Weekly outlook: TD Sequential 9 currently up for grabs this week, haven't seen one of these since April 2019 and July 2018.
Full moon didn't do sh*t to decide, hoping this week can define a direction for the following weeks/months.
Looking at three potential scenarios long-term, as shown by A (bullish TD 9), B (wedge breakdown) and C ("bullish TD 9).
Next week looks set for a bullish TD Sequential 9 on the Weekly chart that hasn't been seen since July 2018. Back then this led to a 40% increase in the price of Bitcoin followed by 4 months of consolidation. This scenario is labeled "A". Extrapolation C is the inverse of the "bearish" TD 9 in April 2019 that led to a continuation of the bull trend. Hence, C is labeled as the "bullish" TD 9 but would be the most bearish scenario. Scenario B is the extrapolation of the 2018 wedge breakdown, as documented in Part 1 of the Bitcoin repeating history series.
The two year vpvr "average price" is referenced as a key level to break (and close) above at $8376.
Full moon didn't do sh*t to decide, hoping this week can define a direction for the following weeks/months.
Looking at three potential scenarios long-term, as shown by A (bullish TD 9), B (wedge breakdown) and C ("bullish TD 9).
Next week looks set for a bullish TD Sequential 9 on the Weekly chart that hasn't been seen since July 2018. Back then this led to a 40% increase in the price of Bitcoin followed by 4 months of consolidation. This scenario is labeled "A". Extrapolation C is the inverse of the "bearish" TD 9 in April 2019 that led to a continuation of the bull trend. Hence, C is labeled as the "bullish" TD 9 but would be the most bearish scenario. Scenario B is the extrapolation of the 2018 wedge breakdown, as documented in Part 1 of the Bitcoin repeating history series.
The two year vpvr "average price" is referenced as a key level to break (and close) above at $8376.
I am not sure if I understand the overall proposition, of the above.
Shouldn't three possible scenarios be something more closely resembling: 1) Up 2) down or 3) flat?
How could you have proposed three possible scenarios that are: 1) Up 2) down or 3) up? Confusioning!!!
Updated the quote, highlighted the relevant scenario. The "bearish" TD 9 in April was bullish af basically, hence if the opposite occurred the "bullish" TD 9 could be bearish af.
Obviously anything could happen, like another 8 different scenarios that somewhat overlap. I just like my comparisons to see that this current price movement isn't that unique at all.
Hope that it explains it, not very good at explaining these things. Only making drawings really.
This wasn't meant to tell you where the price is going, but potentially why, same as Part 8.