Either we broke out of rainbow early or the lines mean nothing and we're heading to top of channel before falling back to 38Kish levels. We're above my first support line. We could retest before heading higher or fake out bullish to continue downward trend.
Preface: Come out of a small bull flag to rise up close to channel maybe wick 46K. Drop to test bottom of channel before choose path. Path 1 (Blue): Bounces from bottom of channel to hit top before retesting 46K as new support. Finally, break out above .236 retesting and finding support at Sept 15-19th congestion around 47-49k. Path 2 (Orange): Drop out of...
Some Hopium for bullish mindset. Though, if repeated, that would be roughly 200 days out and 500% up from here. I expect more of a mania curve than a straight line, though. I also see 100K a mega difficult area to break. Both may lead to shorter time and shorter gains for cycle... maybe.
First Post. Don't hate me too much. COINBASE:BTCUSD Just playing around with the site at this point. Hopefully, do some better TA in the future. Jus need lots of practice.