So before I was joking around posting my 1 support line on btc and publishing, as more of a knee jerk to all the TA I have seen in the tradingview community. I decided to publish a real TA on BTCUSD to share my thoughts. Be sure to watch the video to learn more, but I see 3k as the last support for BTCUSD and if it goes past that, I don't see a crypto future as that will be the final dump. Be very careful both ways as bitcoin has been very volatile in the past If your decision to long or short. I do feel it's safe to short after 4k if you missed the initial one from 5k.
I've been documenting the fall for a long time. This is called the The Theory Of Everything. The chart explains it all
JoshCrozier
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According to this chart, BTC was in the red zone and over-bought all the way from 2k-19k in 2017; so if someone was following the chart literally and not buying in the red zone, they would have missed out on the last bull run profits... what am I missing? Unfamiliar with DSR lines, so I am curious to know.
UnknownUnicorn2052901
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@TheCryptoShark, Great observation. On lower time frames we would of see optimal time's to buy BTC. This is just the overall of the support and resistance structure.
JoshCrozier
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@thlinks, Excellent. That makes sense, thanks!
LadaToLambo
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and the winner for the msot depressing outlook for Bitcoin goes to...............
For the record, its here to stay for a good few years yet at the very least. Looking forward to revisiting this chart in 1 and 2 years from now. When BTC has made new ATH over 100k USD.
UnknownUnicorn2052901
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@vintagebazaar, Right, which I mentioned that 3k would be that "test" to see if the bigger buyers will play this time. So far its "failed or is lacking interest for the bigger players." They may want it cheaper than it is right now. I just don't see any interest after 3k.