I Let Rainman onto my TV Account and this Happened
I decided to take a look at the longer-term view of Buttcoin and spotted that the RSI is doing something interesting. I'll try to explain the mathematics here:
Take the sine of the the gradients (14, 17, 24).
Find the differences between consecutive sine values.
Find the ratio of these differences.
Apply this ratio to the last difference between sine values to predict the next difference between sine values.
Take the inverse sine of this predicted difference (15) and add it to the last gradient (24).
I wouldn't have bothered publishing this if it weren't for the fact that the RSI currently seems to be confirming this predicted new gradient. This parabolic nature leads me to think that there's a very large move in the pipeline. In orange are the one year resistance trendlines. Once broken, the price could increase even faster than the green forecast, depending on how the upper resistance of the channel plays out. However, if the RSI breaks down rather than up, we could see some gruesome price action and retests of previous lows. I'm about 70% in favour of the bearish scenario since the price has been hugging this lower trendline for a suspicious amount of time. Additionally, the price could be really boring and break the orange trendline but then get rejected by the upper one. I think the excitement of breaking the one year resistance makes this extremely unlikely though.
Take the sine of the the gradients (14, 17, 24).
Find the differences between consecutive sine values.
Find the ratio of these differences.
Apply this ratio to the last difference between sine values to predict the next difference between sine values.
Take the inverse sine of this predicted difference (15) and add it to the last gradient (24).
I wouldn't have bothered publishing this if it weren't for the fact that the RSI currently seems to be confirming this predicted new gradient. This parabolic nature leads me to think that there's a very large move in the pipeline. In orange are the one year resistance trendlines. Once broken, the price could increase even faster than the green forecast, depending on how the upper resistance of the channel plays out. However, if the RSI breaks down rather than up, we could see some gruesome price action and retests of previous lows. I'm about 70% in favour of the bearish scenario since the price has been hugging this lower trendline for a suspicious amount of time. Additionally, the price could be really boring and break the orange trendline but then get rejected by the upper one. I think the excitement of breaking the one year resistance makes this extremely unlikely though.
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