BTC/USD Long term trend
Two very clear trendlines have been respected over the course of BTC existence
- The semi-ellipse trend which has acted as resistance throughout all of BTC cycle peaks
- The long term linear trend which has acted as support
It looks like BTC may be nearing the end of the semi-ellipse trend, after which we might see a major breakout upwards (possibly around mid 2025). If this fails to happen we will probably see the major support line get tested with a possible break and fall to low 50s
- The semi-ellipse trend which has acted as resistance throughout all of BTC cycle peaks
- The long term linear trend which has acted as support
It looks like BTC may be nearing the end of the semi-ellipse trend, after which we might see a major breakout upwards (possibly around mid 2025). If this fails to happen we will probably see the major support line get tested with a possible break and fall to low 50s
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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.