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Rounded Bottom and Parabolic Curve Theory idea for $BXQBTC
This is a personal research and idea for investment. DYOR and TIT...
This is Voyager BQX coin on a daily chart.
:::DISCLAIMER:::
This is a short term pattern that probably will develop exponentially growing price action as it starts to close. I'm calling it early as consistent with Parabolic Curve Theory ( PCT ) and am very conscious that events like news catalysts and BTC volatility can deviate it off its course and make price action miss some of the PCT base targets marked here thus making it necessary to revisit this idea.
TIME/PRICE PROJECTION
Pattern start: Late-Feb 2021
Estimated end: 1st week of June 2021 (30+ days from publishing)
Price tag at time of publishing: 7,492 satoshi
Expected price tag at end of pattern: 14,749 satoshi
Sub-base 1 (.b1.1): 7,146 satoshi
Base 1 price level: 8,396 satoshi
Base 2 price level: 9,333 satoshi
Base 3 price level: 10,375 satoshi
Base 4 price level: 11,395 satoshi
Safe trailing take profit area: Recommended trailing take profit at 14,000 satoshi
TECH INDICATORS
Kumo cloud is showing early signs of an imminent trend reversal from green to red with Senkou span A closing in on B. This nuance will mark a bullish confirmation.
Price Action (PA) is currently beneath the Kumo Cloud, which is still considered bearish trend.
T/K crossed up today, which is a very stron bullish sign often taken as a buy signal when in a bullish trend. This is when the blue conversion line (Tenkan sen) crosses up the yellow line (Kijun sen) from below.
Chikou lagging span (purple in my setup) is buried inside PA, which is still bearish indication.
The Parabolic SAR (represented as a white stepping line in my layout) is beneath the PA, which is a bullish trend nuance.
NEWS CATALYSTS AND BTC VOLATILITY
No upcoming news catalysts.
Seemingly affected by BTC dips.
EXPECTATIONS
I expect swinging PA between bases with increasing impulse moves upward and decreasing ranging movement. PCT states that price of an asset once base 3 is reached can double its price in a very short period. This is not necessarily so in this case, but at least 50% increase is expected.
The distance from the curve makes me believe that we still should expect some ranging consolidation in PA.
FINAL NOTE
Drawing may need some minor adjusting as the pattern develops.
This is Voyager BQX coin on a daily chart.
:::DISCLAIMER:::
This is a short term pattern that probably will develop exponentially growing price action as it starts to close. I'm calling it early as consistent with Parabolic Curve Theory ( PCT ) and am very conscious that events like news catalysts and BTC volatility can deviate it off its course and make price action miss some of the PCT base targets marked here thus making it necessary to revisit this idea.
TIME/PRICE PROJECTION
Pattern start: Late-Feb 2021
Estimated end: 1st week of June 2021 (30+ days from publishing)
Price tag at time of publishing: 7,492 satoshi
Expected price tag at end of pattern: 14,749 satoshi
Sub-base 1 (.b1.1): 7,146 satoshi
Base 1 price level: 8,396 satoshi
Base 2 price level: 9,333 satoshi
Base 3 price level: 10,375 satoshi
Base 4 price level: 11,395 satoshi
Safe trailing take profit area: Recommended trailing take profit at 14,000 satoshi
TECH INDICATORS
Kumo cloud is showing early signs of an imminent trend reversal from green to red with Senkou span A closing in on B. This nuance will mark a bullish confirmation.
Price Action (PA) is currently beneath the Kumo Cloud, which is still considered bearish trend.
T/K crossed up today, which is a very stron bullish sign often taken as a buy signal when in a bullish trend. This is when the blue conversion line (Tenkan sen) crosses up the yellow line (Kijun sen) from below.
Chikou lagging span (purple in my setup) is buried inside PA, which is still bearish indication.
The Parabolic SAR (represented as a white stepping line in my layout) is beneath the PA, which is a bullish trend nuance.
NEWS CATALYSTS AND BTC VOLATILITY
No upcoming news catalysts.
Seemingly affected by BTC dips.
EXPECTATIONS
I expect swinging PA between bases with increasing impulse moves upward and decreasing ranging movement. PCT states that price of an asset once base 3 is reached can double its price in a very short period. This is not necessarily so in this case, but at least 50% increase is expected.
The distance from the curve makes me believe that we still should expect some ranging consolidation in PA.
FINAL NOTE
Drawing may need some minor adjusting as the pattern develops.
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