Hi,
can you explain why the yellow line should be the biggest resistance? It basically connects with only a single local high. And normally a trendline should connect at least 2 local highs/lows.
@Deskart10, Alright, but I would think that is a rather unusal perspective. Not really clear to me why you draw the lower trendline starting from between Nov-Dec 2017, which is not really a local high/low. I think that BTC clearly shows no parallel channel, but rather a triangle or wedge (which is based on trendlines that touch the local highs/lows multiple times.
Anyway, maybe I am just wrong :) Thanks for your post.
Deskart10
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@c_c,Well the lower trendline is coming from 11/20 , 11/21 , 11/22 , 11/23 11/24/2017 and last 02/06/2018 , the higher has been confirmed 6 times on a more seperated time, as u see on the chart .
My post remained neutral , to give a chance to both possibilities as this market is not 100% predictable by TA.
I dont think it will touch back the yellow lower trendline if you want my opinion, but in this market everything is possible , as you see my lower point if that might one day happen would be the " next strong support lvl identified on the drawing , around the 4800$ , but with all good news coming out we may break the upper yellow trend line , and that is my wish , but be prepared for both .
can you explain why the yellow line should be the biggest resistance? It basically connects with only a single local high. And normally a trendline should connect at least 2 local highs/lows.