Bitcoin Predictions using Gann – Jonathan Morgan
The chart above is Bitcoin’s daily chart — logarithmic. The horizontal green lines are all 360-degree price levels in Gann’s Square of 9. The vertical lines also represent angles (in this case, divisions of 90-degrees). Green vertical lines = 360-degrees, blue vertical lines = 90-degrees, yellow vertical lines = 270-degrees and the red vertical lines = 180-degrees. Starting with the date of May 8th, 2011 (the first major high followed by a massive market cap loss) we get the series of these vertical lines. Notice where we have some important major swing highs and lows that appear at the 180-degree time angles. See below:
Strange, right? Is it a coincidence that so many of the major highs and lows we find are around the 180-degree angles? The Mt. Gox high, the all-time high, the 2018 bear market low, etc, etc. You can, with the use of other analysis, utilize these angles in time to determine when a move may end. Now let’s look at the price levels.
The image above is still Bitcoin’s daily chart. Observe how strongly each green horizontal line (360-degree angle) acts as a very useful support and resistance level. The all-time high was halted against such a 360-degree price level. We can also observe that the 360-degree price level of 6500 was a major price level in 2018 where Bitcoin regularly oscillated and swung above and below that level before crashing down below that level on November 14th, 2018. And where did it find support? Against the 360-degree angle just below it at 5600, before dropping below that level to repeat the process. So where does that put Bitcoin in the near future? Considering that we are right on top of a 270-degree angle in time (yellow vertical line), I would anticipate some very fast price action in the next couple of weeks. The 270-degree time angle generates massive and swift moves. We are very close to being in a full 90-day consolidation range which ends one-day after one of the most important Gann dates of September 23rd. I would anticipate a significantly higher move until some major high is met on the next 180-degree time cycle on December 10th, 2019.
Published at Wed, 11 Sep 2019 21:09:19 +0000
Bitcoin Pic Of The Moment
✅ This image from Marco Verch (trendingtopics) is available under Creative Commons 2.0. Please link to the original photo and the license. 📝 License for use outside of the Creative Commons is available by request.
By trendingtopics on 2019-04-03 11:16:59
