Some famous traders such as MasterLuc (www.tradingview.com/...ion-as-I-see-it-now/) and MagicPoopCannon (www.tradingview.com/...Fight-For-The-Trend/) mentioned a long time ago that bitcoin stays in parabolic SQRT-stype adoption trend channel from the beginning and never broke out of it either side.
When BTC got to 3K low in December 2018, it bounced up from 200 week MA, but never touched the bottom of the channel, the thing, that I was worried about since that time. And now I notice that we actually got to the bottom of the channel and bounced from it a month ago!
I'm not that optimistic yet, we have some resistances to go. I'm pretty confident that we are at the very beginning of the new financial crisis, and we've never seen how BTC behave in such conditions. But from technical point of view it's a very positive sign.
When BTC got to 3K low in December 2018, it bounced up from 200 week MA, but never touched the bottom of the channel, the thing, that I was worried about since that time. And now I notice that we actually got to the bottom of the channel and bounced from it a month ago!
I'm not that optimistic yet, we have some resistances to go. I'm pretty confident that we are at the very beginning of the new financial crisis, and we've never seen how BTC behave in such conditions. But from technical point of view it's a very positive sign.
