Short Term Rising Wedge, Long Term Optimism
Updated
After about 6 months in the doldrums, the bulls have recently broken critical long term resistance and can look forward to the greener pastures on the horizon. There's a rising wedge to navigate in the short term and there's a good chance we'll need to test the support at 5,755USD. However, looking beyond that, I think we're going to see some medium to long term bullish action with the past six months acting as a trend reversal and our new bottom.
(For the lunatics out there, overlaying the fractal of the 1,000USD ATH to the 20,000USD ATH (scaling for price whilst holding time fixed) yields a target of 326,847USD for the next ATH - if you don't believe me, just zoom out.)
(For the lunatics out there, overlaying the fractal of the 1,000USD ATH to the 20,000USD ATH (scaling for price whilst holding time fixed) yields a target of 326,847USD for the next ATH - if you don't believe me, just zoom out.)
Note
(Looks like the fractal overlay came out way too faint - best to just chart this for yourself since TV doesn't let you zoom the chart out anyway.)
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