fiatdaemon

Bitcoin Macro Trend Analysis (from 9/27/15 to 11/23/20)

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Looking at Basic Trends using All / Weekly for All Time Trends using Log Scale

Support Trend Line from 9/27/15 to 11/23/20

$20 k Resistance

Support Retracements at $6.7 k, $10 k, and $13.3 k

Support Retracements at ~33%, and ~50%, and ~66% from $20 k respectively

Support Trend Lines showing repeated vertical action with RSI @ ~85% at critical peaks

Speed Lines set to 33%, 50%, and 66% scaled by using the major trend line

Repeated attempts to hit previous ATH of $20 k with approximately less than one third of the previous vertical distance to cover

Dotted trend lines showing identical angles which vary depending on log scale (approx 64 degrees at this scale)

Bitcoin showing its gradual trend to revisit its ATH while showing a strong trend at a macro scale

Eventual continual retests back to the trend line should inspire confidence over time

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