BTC about to cool down? (First analysis - please give feedback)
Updated
My first trend analysis. It looks like the parabola below was supporting the graph until the roof was hit the second time at all time high. I guess the price could tumble now since the parabola was broken, but I’m not very experienced in 1: creating these support lines and 2: interpreting them.
Please give me some feedback.
Please give me some feedback.
Note
It was obviously a little too early to tell and Elon Musk's update about Tesla's 1.5bn bitcoin investment was not included in the analysis. In hindsight, the bottom "resistance" also was without greater meaning.
The trend kept the trajectory after the curve, making the curve more of a downward channel, double-bottom and upward channel. After all, the well needed cooler still came, although not falling back to previous levels in this chart.
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