A step-by-step procedure for resolving the Bitcoin direction puzzle


Let's begin by sketching current channels (in yellow) and hypothetical channels (in green, purple, red, and gray) on the chart below:

Fig1

After that, we'll assess the possibility of future market values and, lastly, we'll determine an entry point.

The red channel indicates that the price may drop to $65,768 and then rise to $74,474, then it will reach the cross point of the red and yellow channels, which is 79420. (see the second figure).

Fig2

According to gray channel analysis, the market will dip to $59,845 before climbing to $78,943 on November 15th, after that, the long run will begin (Please see the next figure).

Fig3

In the other condition, which we consider the green, purple, and yellow channels, we find that the market should drop to the cross point of the purple and green channels on November 15th, which is approximately $59,845; and then resume its upward trend to the top of the yellow channel, which is approximately $78,943. If the price can break above the line, it will increase to $99,537 till December 7th and 8th. Then, between December 10th and 12th, we will see a pullback to $85,815.

The last wave will go up to $155,405 until December 24th. (Please see the following figure).

Fig4

According to the various conditions described above, the best rate to enter the market is around $60,000. However, the optimal tactic is to follow the dates mentioned above. For example, if the market follows the pattern of the first condition, the best strategy is to stay out and wait for the next drop. If the next drop occurs on November 15th, take your position around $60,000.

I hope we all have a prosperous New Year's celebration.

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FireX
FireX

PhD in Photonics and Financial Engineering. Currently, we are working on different projects involving microstructures and cryptocurrencies. We attempt to provide useful information for all the market participants to improve their trading performance.


Trade Cryptocurrencies At The Right Time.
Trade Cryptocurrencies At The Right Time.

We are a PhD team in the field of financial engineering; our research works focus on financial market microstructures. We attempt to provide you with an analysis of the cryptocurrency based on the information collected from our studies.

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