Just want to share something I noticed on the BTC/USD long term chart(using 3 day in this image). Play with the chart and expand it. BTC is in a HUGE ascending channel , middle is marked in dotted line. Follow my thoughts...Something to ponder...long term... please reply with your thoughts after digging into mine.
Starts in 2013 when BTC was only $25
There are 3 symmetrical triangles I have marked and they all have breakout points in mid December 2019, with-in 6 days(vertically marked). All 3 breakouts, if Northward, have measured moves in the window marked ($19880+). BTC grazed the bottom of the Long-Term trend line just recently at 6500-ish. Those 3 breakout points, measure to the middle of the large trend line (dotted line).
Measuring the distance from the top 2 touches of the long term trend line , the next touch is the black circle ...approx $350K.
Note: the colored horizontal lines are just current and weekly moving averages I didn't hide.
Mid December is only the 70% mark on the triangles, could go a bit further and would have to be a measured move over time, not in one day, but the T/A does work.
I just find it quite bazar all of the technicals match up. Will save this and refer back in a few weeks and see where BTC is.
Please reply with you opinions and thoughts and criticism...THANKS!
Starts in 2013 when BTC was only $25
There are 3 symmetrical triangles I have marked and they all have breakout points in mid December 2019, with-in 6 days(vertically marked). All 3 breakouts, if Northward, have measured moves in the window marked ($19880+). BTC grazed the bottom of the Long-Term trend line just recently at 6500-ish. Those 3 breakout points, measure to the middle of the large trend line (dotted line).
Measuring the distance from the top 2 touches of the long term trend line , the next touch is the black circle ...approx $350K.
Note: the colored horizontal lines are just current and weekly moving averages I didn't hide.
Mid December is only the 70% mark on the triangles, could go a bit further and would have to be a measured move over time, not in one day, but the T/A does work.
I just find it quite bazar all of the technicals match up. Will save this and refer back in a few weeks and see where BTC is.
Please reply with you opinions and thoughts and criticism...THANKS!