Did you notice the weekly chart print on the GRM?
The (deep breath) “Golden Ratio Multiplier Multiplied Moving Averages” indicator is a much unloved indicator with only 270 likes since June 2019! I'm guessing that is about to change after you read this post.
What is it?
The indicator uses a moving average that is very close to equal on the growth of Bitcoin as an asset class with respect to the Golden Ratio. It is not important if that is not understood. All that is important is you can read the chart lines. So simple.
Multiples of the Golden ratio are used to plot the curves you see on the weekly chart above.
A fact:
Price action has gone on to confirm resistance on a new higher multiplier level WHEN price action has crossed over (from under) a lower multiplier level and confirms support on past resistance. Look left. Black arrows.
Price action on the weekly has just confirmed support on the current multiplier level.
Another fact:
The above fact is 100% without a false reading. This allows us to infer there is now a high probability price action continues to the next multiplier level, 110k.
Ww
The indicator
The (deep breath) “Golden Ratio Multiplier Multiplied Moving Averages” indicator is a much unloved indicator with only 270 likes since June 2019! I'm guessing that is about to change after you read this post.
What is it?
The indicator uses a moving average that is very close to equal on the growth of Bitcoin as an asset class with respect to the Golden Ratio. It is not important if that is not understood. All that is important is you can read the chart lines. So simple.
Multiples of the Golden ratio are used to plot the curves you see on the weekly chart above.
A fact:
Price action has gone on to confirm resistance on a new higher multiplier level WHEN price action has crossed over (from under) a lower multiplier level and confirms support on past resistance. Look left. Black arrows.
Price action on the weekly has just confirmed support on the current multiplier level.
Another fact:
The above fact is 100% without a false reading. This allows us to infer there is now a high probability price action continues to the next multiplier level, 110k.
Ww
The indicator
Comment:
The trend line support is projected for test in early May.
weekly
weekly
BTC
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Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
On this weekly chart (above and below) price action has never closed below 67.3k, support has been consistent.
If you see price action at those levels, use both hands to grab it. Ignore the emotions.