I spotted this unique pattern on the Daily chart of BTC/USD, and I think it's nice sharing it with the crypto community.
I observed that Envelope cross over the middle band of Bollinger Band from below on 01/07/2020, and the aftermath of this cross over was a massive upward movement in the price of BTC.
I also noticed that at the time of this cross over, Stochastic is already in the overbought zone. Despite that,
BTC still rally up. Thus, making this cross over a death cross.
This same pattern has already been printed again on theBTC chart on 06/04/2020. This has got me thinking that history is about to repeat itself.
If things goes the way of my observation, thenBTC could get to $10,000 before dropping off.
I will like to hear from you guys what your thoughts are.
Thanks.
I observed that Envelope cross over the middle band of Bollinger Band from below on 01/07/2020, and the aftermath of this cross over was a massive upward movement in the price of BTC.
I also noticed that at the time of this cross over, Stochastic is already in the overbought zone. Despite that,
BTC still rally up. Thus, making this cross over a death cross.This same pattern has already been printed again on the
BTC chart on 06/04/2020. This has got me thinking that history is about to repeat itself.If things goes the way of my observation, then
BTC could get to $10,000 before dropping off.I will like to hear from you guys what your thoughts are.
Thanks.
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Disclaimer
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.