Continuing my (unreasonable?) interest in radial lines as a type of TA, here's an additional curious take on the familiar 12-year Bitcoin price chart. Explanation: The yellow radial lines go from a low to the previous high. The convergence area is circled in yellow. The orange radial lines go from a high to the previous low. The convergence area is circled in...
Continuing my (unreasonable?) interest in radial lines as a type of TA, here's a curious take on the familiar 12-year Bitcoin price chart. I don't put much faith in the last radial line (because of the late 2023 date), but it does represent an interesting "idea". By the way: I'm somewhat critical of those who "fit" a couple of curved lines to Bitcoin's 12-year...
Same chart zoomed in. Please scroll around and explore. I'm very interested to hear opinions on this.
Same chart, but with an added origin point in green. Notice how well these radiating trend lines meet the graph. What's going on here?
Can anyone explain what underlying technical analysis principals define a pattern like this? Please explore this chart from present to past and let me know what you think. The origin point for this "radial scaffolding" is at $7,510.00 (2017-11-14 17:00:00). If you draw a trend line from that point through the chart history, you'll often find many matching points...