Or, Are those Sunny Skis ahead?
6-Apr-20
With the entire world a bit shaken by everything in it including the Support and Price of Bitcoin is now a good time to see how historically Bitcoin has turned the corner after being “clipped” by a “Black Swan”?
You might say we can’t like Peter Schiff since its history is too young to reference the “2020 Black Swan” or as I like to call it, 2020BS.
But what if we look back, looking back monthly to daily? What I’ve seen is it’s not as much Bitcoin Supporters but rather the Bitcoin M&T, the Marketers and Token Generators who; to hear them tell it have beaten back “Black Swans” Year in and Year out for 10 years and they are right. Fraud, Theft, Scams, Politics, Courts and Competition. But it’s time someone told them that’s not what 2020BS is all about.
It’s about the “Clipping”
The Yellow dashed line is a historical line identifying the center of this current long trend. Following it back to the left tells us it recently was some support and we can expect it to be a Fortress of resistance. Even now it supports both the 200 and 100 EMA’s.
Will the roll back to green any time soon? I would guess not from the width of it. That would be like me trying to roll over on the floor and be just as funny. It’s certainly not getting the support it needs from the 200 and 100 EMA’s
Using the Bars Pattern I selected the pattern that 2020BS cut when the Swan came through.
It begins on 04 Mar 20 and ends on 13 MAR 20.
I cloned and mirrored it into 5 configurations I found feasible and named them in this order
I Probable, Spring Green
II Possible, Moon Yellow
III Maybe, Wine Red
IV Probably Not, Not White
V BINGO On the Kisser Red
I used my polyline skills to make it easier to see.
Thanks once again for letting me share my Bitcoin outlook.
Remember. This is not trading advice. Follow me if you wish, share it if you want and please engage the like button and add your comments below.
