Hello Friends,
This chart I put together was originally for myself. I had recently discovered trendlines really don't work so much compared to parabolic lines. Every trendline breaks in either direction regardless of a bull/bear market. Support and resistance never stays the same yet using parabolic lines seems to flow better when it comes to having a clue as to where BTC is going.
So just for fun I tried to come up with a prediction that flows along with the parabolic curve and here I present to you this idea. Take notice that the cup and handle (3) has been the signal that shows the end of the bear market and the beginnings of the bull market.
One last thing, take a look at the dotted lines that intersect the parabolic lines. Here I plotted 3 different colored trend lines and extended them from BTCs lowest low, intersecting the lowest low of each of the bear markets and then extended them upwards throughout each bull market. To my surprise these lines predicted the top of the market and the beginnings of a bear market. I don't know about you, but I find that fascinating.
Details on the chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
This chart I put together was originally for myself. I had recently discovered trendlines really don't work so much compared to parabolic lines. Every trendline breaks in either direction regardless of a bull/bear market. Support and resistance never stays the same yet using parabolic lines seems to flow better when it comes to having a clue as to where BTC is going.
So just for fun I tried to come up with a prediction that flows along with the parabolic curve and here I present to you this idea. Take notice that the cup and handle (3) has been the signal that shows the end of the bear market and the beginnings of the bull market.
One last thing, take a look at the dotted lines that intersect the parabolic lines. Here I plotted 3 different colored trend lines and extended them from BTCs lowest low, intersecting the lowest low of each of the bear markets and then extended them upwards throughout each bull market. To my surprise these lines predicted the top of the market and the beginnings of a bear market. I don't know about you, but I find that fascinating.
Details on the chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
Comment:
Take a look at this chart. When I saw this chart it changed my perspective towards drawing horizontal trend lines.
Comment:
Seems like chart is on track. That is interesting. So I am thinking that BTC will go to 5k before it will climb up again? BWTFDIK?