at the moment, bitcoin seems to respect the pitchfork rules...
1. 80% of the time, price reaches the Median line
2. When price reaches the median line, it can either reverse to the upper or lower median line, or cut through the median line
3. Failure to break reach the upper or lower median lines, after the median line is cut through indicates a reversal back to the median line
4. When price reverses before reaching the median line, there is a high probability of price will continue to move in the direction, reaching the upper or lower median line, opposite to the median line
5. When price breaks the upper or lower median line, they are most likely to reach the upper or lower warning lines
6. When price cuts through the upper or lower warning lines, they indicate consolidation or the start of a new trend.
1. 80% of the time, price reaches the Median line
2. When price reaches the median line, it can either reverse to the upper or lower median line, or cut through the median line
3. Failure to break reach the upper or lower median lines, after the median line is cut through indicates a reversal back to the median line
4. When price reverses before reaching the median line, there is a high probability of price will continue to move in the direction, reaching the upper or lower median line, opposite to the median line
5. When price breaks the upper or lower median line, they are most likely to reach the upper or lower warning lines
6. When price cuts through the upper or lower warning lines, they indicate consolidation or the start of a new trend.
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still perfectly in play
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