January 2nd to 7th and 15th to 21st:
Watch these periods each year and note the high and low prices made. Until these high prices are crossed or low prices broken, consider the trend up or down.
Many times when stocks make low in the early part of January, this low will not be broken until the following July or August and sometimes not during the entire year.This same rule applies in bear markets or the main trend is down.High prices made in the early part of January are often high and not crossed until July or August. W.D.Gann.
For example BTC made $7.38 high on 2012-01-12 and this price was crossed on 2012-07-12. So I would bet on bulls at least till July this year.
Technically the price just kissed the bullish trend line projection, where resistance/support level was met. Good luck all.
Watch these periods each year and note the high and low prices made. Until these high prices are crossed or low prices broken, consider the trend up or down.
Many times when stocks make low in the early part of January, this low will not be broken until the following July or August and sometimes not during the entire year.This same rule applies in bear markets or the main trend is down.High prices made in the early part of January are often high and not crossed until July or August. W.D.Gann.
For example BTC made $7.38 high on 2012-01-12 and this price was crossed on 2012-07-12. So I would bet on bulls at least till July this year.
Technically the price just kissed the bullish trend line projection, where resistance/support level was met. Good luck all.
Comment:
Accumulation 3 months. Symmetrical triangle is often trend reversal pattern.