BitcoinLong
$51k Before Melt-up - A Case of Confluence
Long-term channel (Dec 20')
Long-term trend/support (July 21')
0.718 rejection -> 0.618 retrace (major fib)
DBW nearly complete and the larger containing formation of DW nearly complete (needs 1 more touch for total of 3 for each formation)
BTC Log Growth Curve indicator (monthly/log scale) - 51k correlates with 0.5 fib
Downward momentum
Conclusion: 51k last stop before moon
Long-term trend/support (July 21')
0.718 rejection -> 0.618 retrace (major fib)
DBW nearly complete and the larger containing formation of DW nearly complete (needs 1 more touch for total of 3 for each formation)
BTC Log Growth Curve indicator (monthly/log scale) - 51k correlates with 0.5 fib
Downward momentum
Conclusion: 51k last stop before moon
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