My prediction for BTC/USD price at 6:30 PM today

Just for fun, I am choosing a price target based on a really simple model.  Chances are its ridiculous but doing it just for fun.  As so many people say a principle is a simple one, this one is relatively simple and I will either eat my words here or have the prediction work.

Note:  This post is for entertainment only and is not trading advice.

So, simply looking at the 1 hour view, picking the highest high within the last 3 days to start a line to the 2nd highest high in the last 3 days as seen here:

Then starting another line at the lowest low within the past three days to the second lowest low in the past three days as seen here:

Where these lines interest is likely where the price is going before making a big change in momentum, just in my opinion.

So the next look is at the RSI levels and starting at the 1 Day view, then 12 hr, 6 hr, 4hr, 2 hr, 1 hr, 30 min, 15 min, 5 min, 3 min and 1 min.

At each view I am simply looking at the RSI level, and from 1 Day to 4 hours the RSI is below 50 and 2 hour to 1 min are all above 50.  So I am going to read this as there is upward movement coming for anywhere from 1 minute to 1 hour.  And to play it say I will halve the time of the upward movement indicated by the RSI at the max time it is showing above 50, which in this case is on the 2 hour view.  So I am writing this post at 5:46pm est and my projection was made around 5:30 pm est.

So I picked the upward movement limit to be the first line drawn from the highest high to the second highest high and to have that hit at 6:30pm, cause at 6:30 pm the moment will likely start to be dropping as it is taken over by the 4 hr, 12 hr and 1 day traders as the RSI on all of those is below 50.

So here is the final prediction of the price at 6:30 pm EST Jan 24, 2018:

 

 

 

 

6:30 PM update, you be the judge:

David bought his first bitcoin in Nov. 2017 and has been learning and sharing about cryptocurrencies, mining and trading ever since.

Leave a Reply

Your email address will not be published. Required fields are marked *