BTC/ USD Chart Looks To Be In Downtrend
In the fast-paced world of-BTC/USD it's hard to use traditional technical tools and statistical analysis.
Bollinger Bands and other standard deviation tools can give false readings because of wide variation.
This is called inference error.
Have you ever noticed "exit polls" that have an error of +/- 3%. This is the statistical error of the math involved.
For-BTC/USD we shall talk in terms of error at +/- 10%. Wild variation does not lend itself to statistical certainty.
With this being said.....
Here are the letters and what "TRADE-MAP" means to me (first the letters in TRADE):
1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces.
Now the letters in MAP:
6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance. There you have it: Don's personal "TRADE-MAP.
Here are "Don's Top Ten Technicals": 1. The Ichimoku Cloud is weakening. 2. Prices are falling into the cloud. 3. Prices are consistently falling BELOW the thick red Ichimoku Cloud Conversion line. 4. The thick red conversion line is moving mostly LOWER. 5. The thick black line is the Ki-Jun-Sen baseline of the Ichimoku Cloud and this is HEADING DOWN.
6. The indicator on the top of the page is RSI / Stochastic , and this is ovesold. 7. The top-side middle indicator is vortex and this is negative (red over green) . 8. The Top (bar-type) indicator measures the "phase energy", and this has been weak and is now below zero. 9. The red fractal arrows (not pictured) are DOWN.
10. Look to the right on the chart, around 644. You will notice a yellowish line on the top (jaws), with black dots below (teeth), and a blue line (jaw) below the black dots. Now, all three are CLOSED, correct? This is where I ask you to use your imagination and envision these three items as the "jaws, lips, and teeth of a SLEEPING alligator, and the alligator will continue to feed into the DOWN-TREND soon.
The five impulse waves should be followed by three a-b-c corrective waves. Downside targets are 595, then 540, then 500.
The trend box regression trendline is based on three standard deviations. Impulse wave 5 is below the center-line. This indicates more weakness as prices fade.
I detect very few positives on this chart. I conclude that-BTC/USD is heading lower.
Go luck to you on all of your trades. Don.
Bollinger Bands and other standard deviation tools can give false readings because of wide variation.
This is called inference error.
Have you ever noticed "exit polls" that have an error of +/- 3%. This is the statistical error of the math involved.
For-BTC/USD we shall talk in terms of error at +/- 10%. Wild variation does not lend itself to statistical certainty.
With this being said.....
Here are the letters and what "TRADE-MAP" means to me (first the letters in TRADE):
1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces.
Now the letters in MAP:
6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance. There you have it: Don's personal "TRADE-MAP.
Here are "Don's Top Ten Technicals": 1. The Ichimoku Cloud is weakening. 2. Prices are falling into the cloud. 3. Prices are consistently falling BELOW the thick red Ichimoku Cloud Conversion line. 4. The thick red conversion line is moving mostly LOWER. 5. The thick black line is the Ki-Jun-Sen baseline of the Ichimoku Cloud and this is HEADING DOWN.
6. The indicator on the top of the page is RSI / Stochastic , and this is ovesold. 7. The top-side middle indicator is vortex and this is negative (red over green) . 8. The Top (bar-type) indicator measures the "phase energy", and this has been weak and is now below zero. 9. The red fractal arrows (not pictured) are DOWN.
10. Look to the right on the chart, around 644. You will notice a yellowish line on the top (jaws), with black dots below (teeth), and a blue line (jaw) below the black dots. Now, all three are CLOSED, correct? This is where I ask you to use your imagination and envision these three items as the "jaws, lips, and teeth of a SLEEPING alligator, and the alligator will continue to feed into the DOWN-TREND soon.
The five impulse waves should be followed by three a-b-c corrective waves. Downside targets are 595, then 540, then 500.
The trend box regression trendline is based on three standard deviations. Impulse wave 5 is below the center-line. This indicates more weakness as prices fade.
I detect very few positives on this chart. I conclude that-BTC/USD is heading lower.
Go luck to you on all of your trades. Don.
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