Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Описание
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Updated version of XV. Scale is unlocked. I'll use this to monitor the extension of current correction. Interested to see how price will behave when it gets around red 4.236. Scheme is valid till price crosses above black line of upper channel.
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Red dotted 3.618 line pushed BTC for a correction. Sine wave confirms it.
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Red dotted 4.236 line played role of significant resistance, once price got close to it. What we now see is a correction. Need to look for specific patterns to confirm if it's a reversal in 4h TF.
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Dashed line can be considered as a support regressive trendline due to recent price action
Nice idea - I really like how you have it set up but want to make sure I understand.. is this projecting downward pressure when oscillators are moving towards lows (for example in Q4 '21) and vice versa?
fract
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@Capt-Ahab, Oscillators? They are sine waves of different frequencies adjusted to cycles of bitcoin.
Capt-Ahab
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@fract - Thank you for the response! I think we are using different words to describe the same thing, sorry for the confusion :)
I am interpreting the chart as follows.. hoping you may be willing to guide me where I misunderstand.
1. The highest frequency wave shows micro cycles and the lowest frequency shows larger macro cycles
2. When these waves coincide at a high or a low there is likely to be large moves within the market. This leads me to interpret our current state as a local high on the verge of a correction (since mid and high freq are at crest moving towards trough) in a generally bullish market (low freq moving towards crest).
Is this correct? If so, are you projecting the end of this macro bull cycle to be at the white vertical line labeled 3? The reason I ask is all 3 waves coincide at a crest and would be approaching trough in their next cycle.
Thanks again!
fract
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@Capt-Ahab, Should be like that, however I do admit that no force of the market will stay constant for a long-term! We'll see how this works out to be able to get closer to the nature of randomness of fluctuations. Common sense tells me what we see is a coincidence.