We got the expected GREEN July and so, amazingly, we continue to repeat the pattern from January to July 2012. ( Left Box )
It is almost the same pattern as 2020, apart from the Red May candle in that Year. (Right box)
The Large Arrow points towards another occasion where we had a series of consecutive Green candles from March to July, though these candles sizes are nothing like the ones we are currently experiencing.
The Boxes show us The only 2 occasions where we have had a Green December, Red January, Red February, Green March, Green April.
Then we had a Green May 2012 and a Red May 2020
Then both repeated a Green June, Green July.
The thing to note here is how all these are en-route to Cycle Highs.
So, August count currently is 5 Green to 9 Red, so the Odds are, while looking at BTC History, that we will get a RED August
HOWEVER, if we continue this run of following previous patterns, we will see a GREEN August.
In fact, 3 of those 5 Green August closes were in these 3 patterns mentioned.
Every single one of the 5 Green previous August followed a Green July, the last time was in 2021.
As mentioned in last months report, the size of the candles currently in this pattern are more like those in 2020 than the other 2 patterns talked about here.
With this in mind, we may expect a smaller Green candle close for August , Followed by a small Red candle in September. This did also happen in 2017 ( Arrow).
This August has opened Red but so far this year, many month opens were red and then changed.
So, My expectation id for a small Green August as markets cool off over the holidays and we wait for the start of Q4 in October.
We will have to wait and see as ever
Stay safe
Nothing to be taken as Financial advice.
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Nothing to be taken as Financial advice.
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.