Current Correction in Bitcoin $BTC Monthly Chart
First curve perfectly fits the graph from 2014 high to 2017 Q1(where the price reached the previous high) and it took 39 bars to reach that level. Likewise, counting 39 bars from the 2017 ATH candle(wick is not included), yellow curve forms as seen in the graph. This second curve clearly shows that a substantial drop in the price will occur as the price wants approach the curve.
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.