The Chart above involves TWO things we may need to pay attention to.
There is so much involved in this and I could go on for hours because, for me, this opens the door to so many things for Bitcoin.
And I am now looking at this past 14 years as the "Beginnings".
And we need to wait and see Where we go next before we label that
So..
What do we have here.
The ARC of Resistance. - I have talked about this before. Simply put, PA on every ATH since 2011 has been rejected by the same line / Arc - This needs no more than the Arc on a chart to see...
It is as simple as that.
Beneath this, we have that Dashed line of Support that has Never been Broken. Created off a High in 2011, it got retested as support in 2015 and not again until 2023.
Between these two points, you will notice how that Arc of resistance was at its furthest points from the line of support below.
It is like the Beginning and End of a sequence.......
The next thing we have is a Very interesting thing called the Trend-Based FIB Time.
It is important to understand what this is, So ;-
Trend-Based Fib Time is a technical analysis tool that uses the Fibonacci sequence to predict probable price corrections within an existing trend. It is represented by vertical lines at specific time intervals that show potential areas where a swing high, low, or reversal could occur. These intervals are based on the Fibonacci sequence and are not concerned with price levels but rather with time. The tool helps traders identify how far a wave is likely to travel in the trend.
Note what is in Bold there.
And then look at the chart..It clearly shows us, where PA touched that line of support twice, the Cycle / Wave. The RED zones. And between these was the Trend. The over all Gain in price, over Time.
We have 3 Waves in total. The 3 ATH to ATH from 2017 to now
To further support this idea, see how PA did not come down to the Line of support between the 2017 - > 2021 ATH's
That was MID CYCLE - Strength
And so now, while we all wait for the next push up, I want to show you a zoomed, Daily version of this chart
https://www.tradingview.com/x/cHXkJIKt/
The Current ATH we have was absolutely on the day of the END of this Fib Time cycle.
I promise you I did not "Adjust this to suit." That was the genuine result.
And I was Stunned.
And more than that, This image also very clearly shows us that Time and Room is running out for PA.
It faces the strongest lines of Support and resistance it has ever faced and these lines reach an apex in Dec.....
PA ALWAYS REACTS BEFORE THE APEX
So, What is Next ?
The chances of Bitcoin crashing to the Floor are highly unlikely unless all the corporations that have been buying BTC, decide to sell them all at the same time.
This IS a possibility ONLY if they are working with the TradFi banking organisations, that tried to Crash BTC in 2022 / 2023
OK OK, that involves ridiculous amounts of Losses for many ..so..NO
BUT PA IS GETTING SQUEEZED
And so we wait....and Wait till we see Bitcoin PA break out, Enter a Brand New Trend..a Long Term Cycle.....and we may call it Adulthood.....
Or, we will have a Story to tell our Grandchildren about a Dream of breaking Free of Banking that Came Oh so Close
I cannot wait to see what happens Next - and I am HODL
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.