Historic Price Pattern
1. All time high price establishes at fib 38.2
2. Price retrace between 84% to 92%
from all time high
3. Once price breaks out of the Green box,
it will alway re-test to establish a floor
4. Price re-test never break INTO THE GREEN BOX
5. It will take 152 to 214 days (6 months) for price
to go back to all time high after re-test.
CURRENT PRICE ACTION
1. BTC completed the back test in June.
2. There is a setup trend line from the previous 9 as a support.
3. The unusual drag of price above the Green Box could be
because of institutional traders shacking weak hands.
4. Based on historical observations, price should start to rally
anytime from now till the end of the year to reach all time high.
MAIN ASSUMPTION
Price re-trace 84 to 92% from all time high.
1. All time high price establishes at fib 38.2
2. Price retrace between 84% to 92%
from all time high
3. Once price breaks out of the Green box,
it will alway re-test to establish a floor
4. Price re-test never break INTO THE GREEN BOX
5. It will take 152 to 214 days (6 months) for price
to go back to all time high after re-test.
CURRENT PRICE ACTION
1. BTC completed the back test in June.
2. There is a setup trend line from the previous 9 as a support.
3. The unusual drag of price above the Green Box could be
because of institutional traders shacking weak hands.
4. Based on historical observations, price should start to rally
anytime from now till the end of the year to reach all time high.
MAIN ASSUMPTION
Price re-trace 84 to 92% from all time high.
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.
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.