90% Chance of Bull Run in 2019 - 3rd Bullish Indicator!
Updated
Hello everyone! This is my first ever TV post! There will certainly be more to come in the future!
Firstly, I want to thank you all for stopping by. I've finally decided to come out of my shell, and I feel like I have something important to say. To help involve myself in the trading community I would like to point out a few things that no one has really considered. At the end of the post please feel free to comment, spark discussions and share some of your thoughts on the matter, or even play devils advocate for the fun of it.
Just a quick disclaimer, my posts are simply forecasts of what I think may or may not happen, its my personal thoughts and opinion on the market. My skills and knowledge are not financial advice, which means I'm not responsible for your losses and I won't be held accountable for anything you do.
So let's talk about this chart, I've combined every western exchange into 1 chart. This includes bitfinex, coinbase, bitstamp, poloniex, binance, and bittrex. That means the price, volume, liquidity, and so on of every exchange has been averaged into 1 chart. This will make the chart more accurate in terms of data and price direction.
I like to keep things simple, I don't like drawing too many lines or use fancy indicators, especially for this post because its on the weekly, you can't draw much on the weekly charts anyway. Now of course, if you follow any TA updates on your newsfeed, you've probably heard this many times, "we're at a crucial point in the market. Are we bullish?" or something among those lines. For the first time in a long time, we're actually retesting the giant red down trend, that's been holding us down for so long since 2018.
Now let's talk about the most common pattern everyone's talking about, the weekly ascending triangle. This triangle is already in full effect, we can already see the candle pump above resistance, which also pumped above the red downtrend, that's a double win so far. All we have to do now is wait for the week to end. I believe we are bullish. However, the catch is that we're bullsih ONLY IF the candle of this week closes above the red downtrend, and it must be a green candle too, this will be an important indicator to really show where the direction of this market is going. It's Tuesday, 2nd of April in my time, we have 5-6 days for the weekly to close.
To reinforce this point further, we can look at the RSI. This is my favourite part because it was a eureka moment when I saw this. The market cycle is changing, there's no denying that, on the weekly at least. The red downtrend shows the bearish market structure of 2018, from 20k to 3.2k. It's only recently that we started to see a change. The green line shows a change in the market structure, the volume on the RSI has crossed above the red line and begun moving upward, ignoring the old pattern. We're starting to see lower highes and not higher lows. Jan 28 was the turning point of the market cycle changing.
UPDATE: A massive pump just happened again today on the 2nd of April, it pumped $500 within a 5 hours. It seems like this was the ascending triangle playing out, and not to mention there's also a daily reverse heads and shoulders inside it, definitely 2 huge bullish signs. My theory still stands, let's not get our hopes up just yet. We still need to wait for the weekly candle to close, that's probably the best final confirmation to look for. Again, our overall direction seems bullish, there's no doubt about that, before this pump, the market cap was increasing by 1 billion per day, it was a build up that lead to this moment it seems.
The weekly RSI is the reason for this post, the most recent bullish indicator that caught my attention. Now obviously the 2 main things that triggered this event were the other 2 bullish indicators, which happen to be the daily reverse heads and shoulders, and the weekly ascending triangle but that's a story for another time.
Thank you all for taking the time to read this. I really hope this gave you some insight, or challenged your ideas. Again, please feel free to comment, spark discussions and share some of your thoughts on the matter, or even play devils advocate.
Don't forget to connect with me on social media:
Twitter: @cyber_stocks
Discord: NerdMoney#9378
Firstly, I want to thank you all for stopping by. I've finally decided to come out of my shell, and I feel like I have something important to say. To help involve myself in the trading community I would like to point out a few things that no one has really considered. At the end of the post please feel free to comment, spark discussions and share some of your thoughts on the matter, or even play devils advocate for the fun of it.
Just a quick disclaimer, my posts are simply forecasts of what I think may or may not happen, its my personal thoughts and opinion on the market. My skills and knowledge are not financial advice, which means I'm not responsible for your losses and I won't be held accountable for anything you do.
So let's talk about this chart, I've combined every western exchange into 1 chart. This includes bitfinex, coinbase, bitstamp, poloniex, binance, and bittrex. That means the price, volume, liquidity, and so on of every exchange has been averaged into 1 chart. This will make the chart more accurate in terms of data and price direction.
I like to keep things simple, I don't like drawing too many lines or use fancy indicators, especially for this post because its on the weekly, you can't draw much on the weekly charts anyway. Now of course, if you follow any TA updates on your newsfeed, you've probably heard this many times, "we're at a crucial point in the market. Are we bullish?" or something among those lines. For the first time in a long time, we're actually retesting the giant red down trend, that's been holding us down for so long since 2018.
Now let's talk about the most common pattern everyone's talking about, the weekly ascending triangle. This triangle is already in full effect, we can already see the candle pump above resistance, which also pumped above the red downtrend, that's a double win so far. All we have to do now is wait for the week to end. I believe we are bullish. However, the catch is that we're bullsih ONLY IF the candle of this week closes above the red downtrend, and it must be a green candle too, this will be an important indicator to really show where the direction of this market is going. It's Tuesday, 2nd of April in my time, we have 5-6 days for the weekly to close.
To reinforce this point further, we can look at the RSI. This is my favourite part because it was a eureka moment when I saw this. The market cycle is changing, there's no denying that, on the weekly at least. The red downtrend shows the bearish market structure of 2018, from 20k to 3.2k. It's only recently that we started to see a change. The green line shows a change in the market structure, the volume on the RSI has crossed above the red line and begun moving upward, ignoring the old pattern. We're starting to see lower highes and not higher lows. Jan 28 was the turning point of the market cycle changing.
UPDATE: A massive pump just happened again today on the 2nd of April, it pumped $500 within a 5 hours. It seems like this was the ascending triangle playing out, and not to mention there's also a daily reverse heads and shoulders inside it, definitely 2 huge bullish signs. My theory still stands, let's not get our hopes up just yet. We still need to wait for the weekly candle to close, that's probably the best final confirmation to look for. Again, our overall direction seems bullish, there's no doubt about that, before this pump, the market cap was increasing by 1 billion per day, it was a build up that lead to this moment it seems.
The weekly RSI is the reason for this post, the most recent bullish indicator that caught my attention. Now obviously the 2 main things that triggered this event were the other 2 bullish indicators, which happen to be the daily reverse heads and shoulders, and the weekly ascending triangle but that's a story for another time.
Thank you all for taking the time to read this. I really hope this gave you some insight, or challenged your ideas. Again, please feel free to comment, spark discussions and share some of your thoughts on the matter, or even play devils advocate.
Don't forget to connect with me on social media:
Twitter: @cyber_stocks
Discord: NerdMoney#9378
Note
Hello everyone! If you haven't noticed, I put LH (lower highs) on the green bullish trend line on the weekly RSI. That is incorrect, it should be HL (higher lows) instead.I was just testing your knowledge, and wanted to see if anyone paid attention.
Nah I'm joking, I just made a mistake.
I hope this post gave some value. Have a wonderful week everyone!
P.S. I've decided to accept donations. I'm trying to build a brand and business for my trading career. If you would like to donate, all funds would directly support my mission and vision. I still appreciate each and every one of you whether you choose to donate or not.
BTC Donations: 1AuZiofHSqM5gV1ttxUddNovDhEtHgMUgA
Disclaimer
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