Topic: 6-hour forecast - page 2. (Read 3029 times)
If proudhon is going bull, I'm selling all my BTC right now. bottom at $5.
almost fainted seeing proudhon write that?
Nah, $50 is probably the bottom.
Excellent analysis. For me, the fact that RSI touched 30 for the first time since December, failed to bounce, and is still heading down is also a very bearish signal.
FOLLOW-UP:
we're presently seeing some slight bullish action that was forecast by the above FIG 4 (bottom). The inflection (peaking) of the RED directional index in the ADX with a divergent BLUE momentum line indicates a correcting downward trend. i do not expect this to last long, 24 hours or less. we may retrace significantly, but not past $100, and the downtrend will resume thereafter.
we're presently seeing some slight bullish action that was forecast by the above FIG 4 (bottom). The inflection (peaking) of the RED directional index in the ADX with a divergent BLUE momentum line indicates a correcting downward trend. i do not expect this to last long, 24 hours or less. we may retrace significantly, but not past $100, and the downtrend will resume thereafter.
breaking the support at $50 is imminent.
1-MONTH 6-HOUR SCALE:
1 and 3 are simple oscillators
2 is a moving-average based oscillator
4 is a directional index plus a momentum oscillator
-===-
-===-
1. RSI is no longer overbought, and is resting comfortably in the lower (bearish) zone, but i highly suspect the market will over-correct for all that red, red exuberance with at least a little more blue. until we spend significant time in the oversold region, i would not be comfortable holding coins.
2. remember when the daily MACD (blue) bounced off the EXP (purple) on the way up from $100? that was very bullish. the inflection here is just the opposite.
3. Money Flow Index has not even yet dipped into oversold territory to compensate for its own red, red exuberance. the mid-line ("50") bounce corresponding to the failure of the $100 support is an extremely bearish indicator here.
4. accelerating momentum line (blue) on the ADX, is paired for the first time in over a month with a red-above-green bear market indicator. (the two other times this month we had red-above-green, the momentum line was decreasing. these events correspond with corrections, not market reversals).
thank you for your time.
-arepo
if you profit from me, help keep it free!
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
1-MONTH 6-HOUR SCALE:
1 and 3 are simple oscillators
2 is a moving-average based oscillator
4 is a directional index plus a momentum oscillator
-===-
-===-
1. RSI is no longer overbought, and is resting comfortably in the lower (bearish) zone, but i highly suspect the market will over-correct for all that red, red exuberance with at least a little more blue. until we spend significant time in the oversold region, i would not be comfortable holding coins.
2. remember when the daily MACD (blue) bounced off the EXP (purple) on the way up from $100? that was very bullish. the inflection here is just the opposite.
3. Money Flow Index has not even yet dipped into oversold territory to compensate for its own red, red exuberance. the mid-line ("50") bounce corresponding to the failure of the $100 support is an extremely bearish indicator here.
4. accelerating momentum line (blue) on the ADX, is paired for the first time in over a month with a red-above-green bear market indicator. (the two other times this month we had red-above-green, the momentum line was decreasing. these events correspond with corrections, not market reversals).
thank you for your time.
-arepo
if you profit from me, help keep it free!
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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