Long-term channel (Dec 20') Long-term trend/support (July 21') 0.718 rejection -> 0.618 retrace (major fib) DBW nearly complete and the larger containing formation of DW nearly complete (needs 1 more touch for total of 3 for each formation) BTC Log Growth Curve indicator (monthly/log scale) - 51k correlates with 0.5 fib Downward momentum Conclusion: 51k last stop before moon
it's my alternative,anyway im waiting for rise,let's see what happens
mister_desmodue
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@trytofeelpositive, Love your chart. Our macros are essentially the same, namely the descending tightening wedge. Actually, you're the first person I've see who has also charted that formation, although surely there are more of us =) That tightening wedge is a particular reason I am confident in a powerful upwards move once we touch its support line once more, which you have denoted as wave C. It's been building for 1.5 months now. If we're moving up then I believe low $50's/wick to high $40's is the last buying zone before upwards move.