Bitcoin Cycles: Cycle Lows 2/2 Part
I supplement the first part with the following observation:
We have observed that multiple prices can function as resistance and support.
If we draw an ascending trend line from the common bottoms, it becomes nicely visible that these lines also function as support and resistance.
Another common feature is that prices are moving significantly upwards towards the end of the bull market. Up to 450 - 570%. I marked a range on the graph where the ~ 450% region from the current trend was shown. As the current trend line coincides perfectly with the 2015-2017 bull market trend line, not surprisingly, the + 450%% region falls to a similar height.
What will happen here when the bulls breaks out!? However, it is worth treating with reservations. This is only 1 analysis, the whole picture can be drawn after several analyzes.
Non-financial advice. Trading in cryptocurrencies is risky and can result in losses.
Translated with Google Translator
Peace
The-Line
We have observed that multiple prices can function as resistance and support.
If we draw an ascending trend line from the common bottoms, it becomes nicely visible that these lines also function as support and resistance.
Another common feature is that prices are moving significantly upwards towards the end of the bull market. Up to 450 - 570%. I marked a range on the graph where the ~ 450% region from the current trend was shown. As the current trend line coincides perfectly with the 2015-2017 bull market trend line, not surprisingly, the + 450%% region falls to a similar height.
What will happen here when the bulls breaks out!? However, it is worth treating with reservations. This is only 1 analysis, the whole picture can be drawn after several analyzes.
Non-financial advice. Trading in cryptocurrencies is risky and can result in losses.
Translated with Google Translator
Peace
The-Line
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