Lets get in our LearJet and go up to Btc's altitude - Before you lose your mind on the Dom Perignon have a look out the window and see the line of support we are on originates from the Btc peak of over $800 on June 1st 2016 - I don't believe in Coincidence Theories - To put this another way - I'm an alt trader, I swing trade off small timeframe Gann charts all the time, if you follow my trades you know it works. The way i look at it if these were hour candles i'd be seeing ..... <><>..... A breakout that has consolidated nicely on major ascending support, a bull pennant complete with pole thats going to pop hard in the next couple of candles - I will link a chart to this that shows the temporal line we are about to cross around the monthly candle and the ascending support that is approaching - I believe Btc rallies at some point in June to somewhere between $11600 and $12,100 - Then Btc slumps in July - Then Btc hits 23K at Xmas and this time the prices of Btc, the major coins and the solid low cap coins consolidates much higher......and stays there <><> Watch out for the end of July <><> Whatever you buy there will make you rich
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Higher ascending support, a higher low - There has been a very subtle shift from one layer of ancient support to another, prices area about to go up
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The red line at 54 degrees from the june 2016 peak is holding
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We slipped under briefly but have now recovered the 54 degree ascending support from June 1st peak of 2016 almost exactly 2 years ago
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2016 Support still holding - There are 3 major fib convergences on this chart - bottom, middle and top
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There's 2 ways to scale this chart - Btc opened above support in both of them - Lets see if it hold <><>
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Monthly candle looking healthy
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I've had a hard job convincing people it was going to go bullish - Not looking so crazy now lol
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Back here again, the bears got control for a couple of days there, but now they will stay up all night and have eyes like pandas feeling grizzly and bi polar
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Thru the fib just about, lets see if this price holds
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Look out https://bears...https://www.tradingview.com/x/ZPu5zSyk/
@HarryTr, Thanks thats a compliment! Its mainly maths and angles but at the same time right brain/creative rather than left brain/logical
gillianpatrice
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Big Fan of Mr Gann! Absolutely love your weekly and monthly analysis. I share your sentiments.
Nom_de_Guerre
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@gillianpatrice, Thanks Gillian its good to hear someone positive! Lots of negativity around, its been hard to convince people of another direction *)
xMaximus18
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paint a trend reversal before he goes to sleep, domp est tonight to hit his stops, paint some morning star reversel candle and pomp est above the nearest fractal so he cannot buy and thinks that it iwas not manipulated and it was his fault to place stops so high :)
@Nom_de_Guerre all internet calling for $7000 and even lower for comming week. Do you think 73xx will keep it from going more down?
Nom_de_Guerre
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@estankus, I think those people are the opposite of the smart money - The Btc chart is the closest thing to the global crypto market cap chart, if we break support here the whole asset class fails and will take a long time to recover - I dont see that happening - My opinion is this, there's a short sword and a long sword in this picture -