A theory on control zones for BTC. Channels appear to be respected in recent price action.
Monthly: Lowers Lows on Wicks Will we continue the trend of lower lows?
Weekly: MACD Divergence The divergence is still valid and is playing out within the decision zone, which may lead to bullish control.
4 hour: 3 touches of local bottom Pretty strong case for a local bottom
4 hour: Bollinger Bands tightening Impending price action for the decision zone. The longer it ranges the easier it will be for bulls to control if the channels are respected.
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Can we stay above the last monthly wick low of 19526?
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Look at how the 20-day SMA is respecting the midline of the channel
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9/6/22 after big dump, still in the decision zone.
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***9/9/22 Update*** Moving average still respecting midline of the channel. We're still in the hands of the market makers. These large swings are even more proof of this.
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9/16/22 Update
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9/19/22 Dump bounced right off the 18.4k midline of the channel. Respected.
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Sep 30 11:22AM Update We are so close to a decision!
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Bollinger Bands starting to pinch, impending price action. A decision has to be made.
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BTC respecting midline of channel.
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*2/18/23* Channels were respected and BTC broke out accordingly. New trendlines need to be used now....
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