Self explanatory chart. Both previous bear cycles bottomed, bounced and rejected at the 57sma (in purple) on the 1 day chart. Appears that it may be rhyming in 2022.
2 week BTCUSD shows clear support and resistance from 2011 until present on the zero line of this fib channel. Resting again on support now. I'm seeing more and more evidence for the bitcoin bottom being in, including very bearish sentiment in general. This is just an interesting piece of the puzzle.
Chart shows everything. A possible move to .03 or slightly above based on the price channel top and breakout of the diagonal resistance. Not a ton of info to work with and fuel tends to suddenly go berserk. Completely possible it pulls another 30x move like it did early this year and hits .20 cents lol. Seriously. Tends to wait until theta has pumped hard and is...
This idea is playing out very nicely so far. Check out what the RSI did last time it hit the trend line on the daily. Also check out the Volume Flow. WOW! It's predicted perfectly the last several peaks by hitting that trend line with a little double top. Drew in some scribbles for both indicators to show what might happen if it were to repeat in a similar way.
If you look at the pump to .58 cents, price hit the 4.236 Fib extension level almost to the cent. Extrapolating based on movement in the current price channel we're in, relative angle of ascent and using the Fib extensions again (assuming the low is now in from the peak of the last pump. It's completely possible we have a wick down to .18 cents on the bottom of...