Warning, "past performance does not guarantee future results."
Here you can see some very interesting patterns that have emerged in the log BTC chart. Like clockwork, the BTC reversals in short term ups and downs have occured on the 6th of each month starting with the previous low of $6000k on 2/6. This is an interesting development and could be a solid indication of a reversal to the upside in the coming days. Watch the price closely if BTC falls to the 6900-6950 area. If BTC falls much further than the red square shown in the chart, this would be a hugely bearish development. The reason for this is that the log uptrend line (in red) has acted as support for this whole correction. If this log uptrend line is violated then we are almost certainly going to see new lows.
To strengthen this prediction, RSI has been acting as a strong indication of trend reversal with reversals occuring every time RSI has approached 30 on the daily chart. Be aware that the sell-off to 6000k brought the daily RSI to the 25-26 area.
If these indicators mean anything then we should see BTC right around 7050 on 6/6 and a high volume pump starting the new uptrend.
Always protect yourself and have fun with it :)
-EGG-
To strengthen this prediction, RSI has been acting as a strong indication of trend reversal with reversals occuring every time RSI has approached 30 on the daily chart. Be aware that the sell-off to 6000k brought the daily RSI to the 25-26 area.
If these indicators mean anything then we should see BTC right around 7050 on 6/6 and a high volume pump starting the new uptrend.
Always protect yourself and have fun with it :)
-EGG-
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