Bitcoin & alt coins crashing! $32k btc… COINBASE:BTCUSD
Looking back to 2011 I have charted this bellow, which makes me believe 32 will be the bottom.
Follow the red arrows and black dashed line down to the rsi. Realise the oversold area (blue line at the bottom of the blue box) and the upside which follows after.
This is one of my major key reasons which...
Bitcoin isn’t even on the curve yet.
This logarithmic chart dates back to August 2011. Look at the trend line which formed on April 2013 to date. It looks steady, does it not? Yes massive volatile 80% swings etc. Never the less, it’s a steady up trend.
Now take a look at the first ath of 1.1k in 2013, following that through to the next ath at 19.9k in 2017. We...
If we read from left to right, you see the first h&s pattern dropped to the support area which I am classing as the first major support because around the top within the shoulders it is quite messy and rather undefined. There was a 51% drop right there, but once in that area of support (red box) the drop measured 23% (blue box).
Fast forward through the next ath,...
Bitcoin showing signs of a possible break to the upside on the 1 hour chart. BINANCE:BTCUSDT
You can see the red down trend channel has been broken/ rejected on the 8th Jan but still trading within the wedge.
Today we broke that wedge on the move to 42.5k, making me think the 39.8k support was rejected.
If this theory is correct and we continue to make higher...
A brief rundown of my thought analysis.
A brief rundown of my thought analysis.
I am working from the run up starting in March 2020. Starting the first touch on the parallel channel on 28th September through to 19th July 2020 (2) and running that channel up to point (1) at around 60k gave me the trend to work with.
Since peaking at 70k we have now dropped to...
