Here’s a 1 week, 5 year + 5 month view, Bitcoin chart with SMA55, SMA89 & SMA144:

Total candles = 385 weeks
Green candles = 219 weeks
Red candles = 166 weeks
Most green candles in a row = 7 weeks
Most red candles in a row = 4 weeks
SMA55 = $45,570
SMA89 = $38,941
SMA144 = $27,436

Next weekly candle closes in 48 hours. If it closes red, that will be the very first time in 5 years + 5 months that Bitcoin had more than 4 red weekly candles in a row (I didn’t care to go back and count any further, lol). So in this dataset, the statistical probability of a 5th red weekly candle printing is zero. Which means Bitcoin closes above this weeks opening of $39,464 or much higher up.

Just because of statistics, that doesn’t mean it can’t happen in reality. Of course anything can happen and then that would be added to the dataset of probabilities. I will say this, if this weeks candle closes red, it would have a drastic impact on Bitcoin’s price action and it could wick as far down as SMA144 = $27,436.

Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends…

*3x lucky 7s of trading*

7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet

7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst’s motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation

7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list

Checkout my indicators:
Fibonacci VIP – volume
Fibonacci MA7 – price
pi RSI – trend momentum
TTC – trend channel
AlertiT – notification
tickerTracker – MFI Oscillator
https://www.tradingview.com/u/growerik/#published-scripts