Using 1day-Bollinger Bands (BB,20,3) and SMI Ergodic Indicator (well, basically both are price based as SMI_Ergodic is based on True Strength Index) for BTCUSD and adding a rough extrapolation (using data from Jan-Jun, 2014) -> I think that BTC might be zigzagging in the roughly-hand-drawn channel (upper: red, lower: green).
This is NOT a trading advise, just a biased idea from a non-pro. Do your own analysis, study risks and use stops [especially now when 1-week-BB low is as low as 1k(!)]. Criticism/comments/ideas welcome.
This is NOT a trading advise, just a biased idea from a non-pro. Do your own analysis, study risks and use stops [especially now when 1-week-BB low is as low as 1k(!)]. Criticism/comments/ideas welcome.
Note
I calculated also a potential RSI curve (RSI 140 on daily; angles, ends extrapolated from Jan-Jun, 2014), super-hypotechical...Note
Short term: based on 1W BB and MACD and TSI data, I think it is still unlikely that BTC breaks out its channel now, probably only when it reaches below its 1days-MA400. Order cancelled
Correction will take at least 12 more months. My prediction was wrong. Lesson learned: regression modells are good tools.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.