BTC appears to be aligned well with a Gartley pattern that suggests BTC may decrease to around 6000 before resuming a more sustained bullish trend.
Evidence
-The increases through December and subsequent drops form a appropriately-proportioned bullish Gartley pattern.
-Looking at RSI patterns, (daily) similar high levels were seen last year and over the course of several months decreased to very low levels before the trend reversed. December saw similar high RSI levels and are trending toward similar lower levels. If we measure the duration of the RSI drops then and now in numbers of days, they align well. Additionally, the predicted end date of the Gartley pattern matches with the predicted end looking as previous RSI patterns.
-Finally, the trend line established by drawing a line connecting lows identified by dates for previous RSI lows intersects with the predicted low of the bullish Bartley
Of course, this may all just be coincidence, but it does align very nicely and follow logically from the evidence examined.
Aside from BTC and trading, I still think it is pretty amazing how the Fibonacci strategies can be found and align with other patterns.
This is meant to be educational and not trading advice.
Evidence
-The increases through December and subsequent drops form a appropriately-proportioned bullish Gartley pattern.
-Looking at RSI patterns, (daily) similar high levels were seen last year and over the course of several months decreased to very low levels before the trend reversed. December saw similar high RSI levels and are trending toward similar lower levels. If we measure the duration of the RSI drops then and now in numbers of days, they align well. Additionally, the predicted end date of the Gartley pattern matches with the predicted end looking as previous RSI patterns.
-Finally, the trend line established by drawing a line connecting lows identified by dates for previous RSI lows intersects with the predicted low of the bullish Bartley
Of course, this may all just be coincidence, but it does align very nicely and follow logically from the evidence examined.
Aside from BTC and trading, I still think it is pretty amazing how the Fibonacci strategies can be found and align with other patterns.
This is meant to be educational and not trading advice.