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Epic Pennant on BTC Chart


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5 hours ago, jMusic said:

Of course, though I'm no expert (is anyone :) ).

It's based on Hurst cycles, ie. price is the sum of waves of various frequencies and amplitudes, which utilizes displaced simple moving averages. The cma (blue, green and fuchsia centered MA's) are displaced backwards half a cycle and envelopes calculated around them. The FLD's are the price displaced forward by half a cycle (and others). The triple cma cross is significant because it usually occurs half-way during a move, so you can estimate where/when the move will end. The uptrend is the dotted white line (called a VTL by Hurst with very specific rules).

If you check out some of my previous posts there is more info there too including how waves combine to form price. You should also be able to find Hurst's books including "The Profit Magic of Stock Transaction Timing" plus his whole "Cycles Course" in pdf form on the internet.

I've written a script in Trading View that automates most of this and I did offer to post the code if anyone was interested, but nobody was !

Awesome. Perfect explanation for the short answer.

I was starting to do some reading on the triple cross when you mentioned it. What a rabbit hole!! 

Thank you, sir!!

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Just taking the time to say a huge thank you to you @Eric123. I have been reading this thread daily for a long time now. I don't often sign in to post something so this thank you and acknowledgment of

Well guys for those of you that got in late 2017, this is what the beginning of a Bull Market feels like.  There will be ups and downs of course, but it will get much crazier with much higher valuatio

I was a bit bored, so I decided to analyse the reactions in the first 404(!) pages of this thread. In those 404 pages, 3938 comments received a reaction, and in total there were 11515 reactions g

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9 hours ago, jMusic said:

You'll need to create a new script within View (a free account works just fine), copy-paste the code and then apply it to your chart. Click the settings icon on the script and make sure the tf on the script matches the chart, then select whatever features you want...

Thanx :-)

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@Eric123
Bob Loukas latest video, interesting to those who follow this thread

This guy makes a video a month and has kind of the same horizon as for the BTC 4 year event (translating into a progressive uptrend in 2019-2021)

By the way, I appreciate a lot your daily update, I too firmly believe in this trend, having observed/calculated a lot of parallels between 2013-2017 and 2018-now

 

Edited by JannaOneTrick
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On 6/16/2020 at 10:11 AM, jMusic said:

Interesting time approaching (circled in white)...

1215003241_btc6-16-20.thumb.png.f6918eb6c8563dbc63887a5ed65f2f59.png

Price already crossed the first FLD (red) which is the early warning signal. Now if it can continue and cross the second (yellow FLD) we should see a push up to around $10,000 again. If we break through there, +/- $10,200 and $10,600 are likely resistance.

In addition, there is a triple cma cross looming and as such the price is close to the mean.

We are also still in an uptrend.

Sadly, the price did not cross the yellow FLD as hoped and the triple cma cross did not occur either :(

We are still in the uptrend though !

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22 Days above the down trend line.  Bollinger bands have flattened.  Still waiting on the move.  

@JannaOneTrick Thank.  Bob Loukas says some interesting stuff.  I disagree with him on a few points.  I don't think we break the downtrend line, so I don't see a low in July of possibly $6k to $7k a pull back is certainly possible but I doubt the price goes below $8,500 if that even happens.  On a longer term cycle I think the growth in the industry would favor against a long term bear market which mirrors the Nasdaq.  But it's all speculation and Bitcoin always surprises.

If we get a strong break out above say $11,000- $12,000 then everything kinda changes.  

6 18 2020.png

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@WarChest the three lines below the wicks are starting from top to bottom 

the down trend lines on the daily, weekly and monthly.  It clutters the chart but it was a pain to keep redrawing them when I wanted to look at the chart on a longer term time frame.

Also the 100 and 200 Daily Exponential Moving Averages

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The chart is getting really cluttered.  I labeled the lines though.  Price has just had boring sideways dropping in price on generally decreasing volume. (Bullish) In about 5 Days the 100 Day EMA will cross the Daily Down Trend Line. (Bullish). Short term we may continue to move down some, but we have built a short term pennant,  long term the chart seems to be right where it should. Just a waiting game now.   

I'm not sure I'd be making any moves right now other than shorting BitcoinSV.  

6 20 2020.png

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Bitcoin is looking to break out of the short term down trend it has been in since June 1, 2020.  On the longer term the price has had 26 closes above the Long Term Down Trend Line on the Daily Chart and 4 closes above the Long Term Down Trend Line on the Weekly Chart.   Bollinger Bands Continue to flatten/narrow still waiting on our bullish breakout.

6 22 2020.png

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