Illuminate

7 giờ trước

The Illuminate script predicts the potential range of Bitcoin's top and bottom prices based on a logarithmic regression model, referencing Bitcoin's historical price trends and halvings. This script is designed to provide valuable insights into Bitcoin's price dynamics and long-term trends using principles derived from the "Bitcoin Law."

Key Features
Power Law Trend Lines

Primary Trend:
Projects the general growth trajectory of Bitcoin prices over time based on a logarithmic power law.

Resistance Line:
Identifies a potential upper limit of Bitcoin prices during market peaks.
Includes an offset trendline for an additional buffer zone.

Support Line:
Represents a possible bottom for Bitcoin prices during market downturns.
Offset trendlines highlight potential zones of price fluctuation near the support line.

Fill Zones:
Between resistance and offset: Semi-transparent Red.
Between support and offset: Semi-transparent Green/Blue.

Bitcoin Halving Events
Automatically marks significant Bitcoin halving dates with yellow vertical lines and labeled annotations.
Current and future halvings (approximate) are included.

Trending Phase Indication
A dynamic visual color fill highlights different phases of Bitcoin's price evolution based on a 4-year cycle.
Colors: Red, Green, Blue, Orange (indicating each phase).
"Trending Phase" label provides insight into the current phase.

Interactive Inputs
Show/Hide Resistance: Toggle resistance trend lines.
Show/Hide Support: Toggle support trend lines.
Show/Hide Halving Dates: Toggle visibility of halving annotations.

Customizable Parameters
Fine-tune parameters (A and n) for the main trend line to match your analysis needs.

How to Use
Overlay Analysis:
Add this script to your TradingView chart for direct overlay on Bitcoin's price data.

Interpret the Zones:
Use the resistance and support lines as potential upper and lower bounds for price movements.
Analyze fill zones for areas of likely price oscillation.

Halving Significance:
Observe price behavior before and after halving dates, which historically influence market trends.

Long-Term Perspective:
The model is optimized for long-term projections, making it suitable for strategic, rather than short-term, trading decisions.

Disclaimer:
This indicator is for educational purposes only and should not be used as investment advice. Always do your own research and consult with a financial advisor before making trading decisions.