Yellow rectangle would be around where we'd hit $18k, It's based on a trend I drew within the weekly auto log chart for the bitstamp btcusd pair. It's a trend that has acted as support and resistance in the past for Bitcoin. I was looking at what I could do with this trend, and decided to meassure the amount of time it took between each touch on the trend, and I noticed a pattern in the amount of days between the touches. It was like a math test you used to have in school, where you'd have a pattern of numbers, with one field being blank, and you'd have to fill in the blank based on the pattern. Except this is a financial market, a double bottom doesn't bottom at exactly the dollar it did before, therefor this wouldn't land on the exact weekly candle as calculated. The yellow rectangle indicates the date (spread) in which I believe we'd hit $18k.
There are way better ways to trade the bitcoin market, don't listen to me I'm retarded, not financial advice, thanks.
There are way better ways to trade the bitcoin market, don't listen to me I'm retarded, not financial advice, thanks.
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It probably won't play out since there are hundreds of other analysis predictions on BTC out there probably way better, though you could say if this was correct it'd invalidate all those and kind of factor it in, idfk dude, I'm an 18 year old coming up with this at 5:00 AM don't use this analysis lol