BTC has been in a slow uptrend for about a year now and all is looking awfully similar to the period of 2012 - 2013. Price movement structure, fibonacci time zones and are all lining up. Weekly hit base.
Now this could be outer forces messing with us or something and go down in flames, but in case this plays out we might be looking at 15k or more in February.
Closing above the lower yellow and red this year would be setting direction towards new ATHs at least.
- The top orange is setup on the tops of $31.91 and #259.34.
- Every line drawn is linked to a large amount of touches and set on exact prices
You can see similar behavior around the 21's in 2012 and 2016 and we're now moving into the 34 territory.
They indicate possible price turning points and I usually set them up in the beginning of a trend and match the lines with historical tops/bottoms.