BTC sectors, patterns and an exceptional indicator

20 Des 2021

Starting this update with the sector update.
On the daily chart we are in a sector that has a high of $49307 and a low of around $45613, the negative point here is that we are closed below the 200 MA. Now that doesnt spell bear right away but it's certainly not bullish aswell.

The 4 hour chart


There are two main formations we can establish on the 4 hour chart:

1. Triangle

We are really pushing this formation to the limit. Usually we leave this type of formation at around 70-80% of their length but this time we are pushing for the end of the formation. In such cases the price can leave the formation in a sideways manner and by doing so would extend the uncertainty period and would make us look for other smaller formations that would be more pertinent.

RESULT: NEUTRAL

2. Descending channel

Pretty much self explanatory, the price action is inside this formation, protected by two fib levels at $45600 and $44500.

RESULT : BEARISH

Now for the exceptional part of this analysis. When there are so many conflictual indicators technical and fundamental we are pushed to thinking outside the box , not to trade but to try to understand where the market is going.
MOON PHASES
Used in trading for a long time as a bonus indicator, the phases of the moon have been known to affect traders minds differently during the full moon and new moon. This metric is part of some complex bank algorithms so its not only theoretical.
The lunar buy-sell strategy is based on buying on the new moon and selling on the next full moon (usually in 14 to 16 days)



More info on lunar cycles trading and results will be posted in a future video on the sublime traders youtube channel.