Rippie

BTC's important parallel channels

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Long term trends don't turn on a dime, so if you're a bull you want the downward channels to becomes less and less steep to where it actually starts moving in an upwards channel.

This chart shows all the main MA parallel channels bitcoin is following.
The steepest resistance line (aqua) has already broken out of, next up is the light pink (less steep than aqua), then green (less steep), then hot pink (least steep).

The support lines in order from bullish to most bearish:
Dark blue (long term uptrend support), white (dead flat), hot pink (least steep downtrend), green (more steep), pink (steepest and worst)

Lets hope BTC continues to break up through each line rather than break down through each support.





Comments

Thanks for the charting, definitely becoming less volatile hopefully next channel is sideways then up.
Reply
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