PRS #10 DERIVATIVE MAP. BTCUSD ATH, BUT I NEED 45 MORE DAYS.
Updated
This is continuation for PRS LIVE TEST #10, BTCUSD all time high. This is ATH we are talking about, so 45 days is a splash in the bucket. Since I did that write up last, we have bounced a bit and then went no where. While PRS is decidedly an intermediate trading system, I wanted to put this on the record to prove PRS's value as a longer term trading guide. Once bitten, twice shy. But if PRS nails this move in November, all will be forgiven.
With that said, August will reveal where cryptocurrency as a sector is headed. PRS is ultra bullish bitcoin despite its choosing the longer route (and inspite of my misgivings on cryptocurrency as a whole). This is a derivative map on 8 hour bars but zoom out to daily bars. Much more attention to detail this time vs the last time to not disappoint. The faded gray skinny line is in the scenario of more hestiation, which PRS projects as an underdog. Is there a bearish out come possible? There always is, but right now lower than 1 in 5 and not worth discussing at this time. As usual, will add more as we get closer.
With that said, August will reveal where cryptocurrency as a sector is headed. PRS is ultra bullish bitcoin despite its choosing the longer route (and inspite of my misgivings on cryptocurrency as a whole). This is a derivative map on 8 hour bars but zoom out to daily bars. Much more attention to detail this time vs the last time to not disappoint. The faded gray skinny line is in the scenario of more hestiation, which PRS projects as an underdog. Is there a bearish out come possible? There always is, but right now lower than 1 in 5 and not worth discussing at this time. As usual, will add more as we get closer.
Note
NOTE: 45 more days AFTER 9/20 which is 11/05.Note
This idea is close as of 7/25 at 9685. It opened under 9100 so as a trade idea it is a win but I cant use it to grade PRS bc it is being closed so early. The reason is the evidence in cross asset volatilty in October pretty much prevents me to continue with this idea.Note
By 7/27 the curve has caught up to the original projection of 9/20 all time high. But I still am uneasy about the move. You want to see an ending diagonal after 11700, which would move to 14000 by 8/10.
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