Price has reached a extreme at the U-MLH, where a pullback was expected. The move to the Centerline had a very high probability of over 90%, and it played out like textbook.
Bitcoin is now at a critical stage: If price falls below the Centerline, I first expect a pullback to it, then a further down move to the L-MLH.
Interesting how using a "fork" line analysis corresponds with the upcoming Bitcoin Gold HardFork. "Hardfork Hangover" is beginning to seep through. But using the fork analysis is the most apt as it fits perfectly.
Thanks for commenting.
It's somehow funny, the BTC/Gold HardFork & Forks :-)
To me this is prove Nr. 1020030 (LOL) that Forks work with everything where a environment is "living".
Be it with real living creatures, or people behind a market.
Forks even work fine with weather data or the cycles of Ants.
Basically it's a simple law of action/reaction and mean reversion.
But the real interesting part is the ruleset behind the Forks, as it makes them a high probability trading tool.
However - I will observe the e-currencies much closer in the future and dig deeper into this (for me new) world.
Appreciate your feedback anytime and if you like - I have a Chat here on TV --> "ForkTrading Method"
Regards