Bitcoin Macro Trend Analysis (from 9/27/15 to 11/23/20)
Looking at Basic Trends using All / Weekly for All Time Trends using Log Scale
Support Trend Line from 9/27/15 to 11/23/20
$20 k Resistance
Support Retracements at $6.7 k, $10 k, and $13.3 k
Support Retracements at ~33%, and ~50%, and ~66% from $20 k respectively
Support Trend Lines showing repeated vertical action with RSI @ ~85% at critical peaks
Speed Lines set to 33%, 50%, and 66% scaled by using the major trend line
Repeated attempts to hit previous ATH of $20 k with approximately less than one third of the previous vertical distance to cover
Dotted trend lines showing identical angles which vary depending on log scale (approx 64 degrees at this scale)
Bitcoin showing its gradual trend to revisit its ATH while showing a strong trend at a macro scale
Eventual continual retests back to the trend line should inspire confidence over time
Support Trend Line from 9/27/15 to 11/23/20
$20 k Resistance
Support Retracements at $6.7 k, $10 k, and $13.3 k
Support Retracements at ~33%, and ~50%, and ~66% from $20 k respectively
Support Trend Lines showing repeated vertical action with RSI @ ~85% at critical peaks
Speed Lines set to 33%, 50%, and 66% scaled by using the major trend line
Repeated attempts to hit previous ATH of $20 k with approximately less than one third of the previous vertical distance to cover
Dotted trend lines showing identical angles which vary depending on log scale (approx 64 degrees at this scale)
Bitcoin showing its gradual trend to revisit its ATH while showing a strong trend at a macro scale
Eventual continual retests back to the trend line should inspire confidence over time
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