While Bitcoin has provided some powerful bullish moves recently, I thought I'd point out the obvious, which is, it is nothing more than touching the under side of a MAJOR trend line, as I see it, and it could still prove to be the last touch before heading much lower. With that in mind, BTC price, in order to confirm the bullishness, will need to simply close above the proposed upper channel line! I believe if it does close above, then a flood of volume will kick in and we will instant take on the 11,500 plus zone!
With regard to channels, let me say that there are very few people that I am aware of that have studied them in the manner that I have!!!! And, I have learned over the course of time, from my original placement of these months ago, channels can be extended to predict and determine price points, as well as determining when a trend has truly completed. In the case of BTC, that upper channel line represents the end of the bear market grasp!!!
Cheers!
With regard to channels, let me say that there are very few people that I am aware of that have studied them in the manner that I have!!!! And, I have learned over the course of time, from my original placement of these months ago, channels can be extended to predict and determine price points, as well as determining when a trend has truly completed. In the case of BTC, that upper channel line represents the end of the bear market grasp!!!
Cheers!
Comment:
I referenced the 11,500 + zone, see chart below.
