The 2 times that the blue lines was broken, opened to a bull run. This line was never supportive and now for the first time could have offered support to bitcoin
If bitcoin found support on this line during last retracement to 6k, it could mean that bitcoin will not retest 6k
the red line offered support in 2013 for a second bull run. It failed to support bitcoin what opened to a continuation of bearish movement. This line acted as reversal point after the last bull run.
This line could have diverged from bitcoin target
When broken, the purple line failed to be supportive and offered resistance for the pullback consquent pullback
When transformed in resistance in 2014 opened to a long bearish movement
That could be a scary sign for the future of bitcoin
After the break out of this lines there was the last bull run. after that worked as support line 2 times.
Strong new support for bitcoin?
Bitcoin followed 2 times the same schema:
Bull run, find a resistance, correction movement till the old resistance, who worked as support for the nex bull movement.
In November Bitcoin correction was to small (blue cercle) and opened to big bull run.. now bitcoin overcorrected to compensate the small correction and big run of november-decemeber.
A possible bullish scenario: bitcoin find support around 7580 (resistance line of november 2017) + intersection with the blue line and from there goes more up.