BTC USD
I don't think I have seen anyone that is looking at the BTC price action from this perspective... Let me know what you guys think.
I have drawn trendlines from 2017 tops and bottoms to our present 2021 local tops and bottoms with arcs that cup the price action as a safety net for the short to medium term.
I use these arcs to distinguish when to be bear or bull and use them as a dome to navigate price action so I stay level headed when shit hits the fan.
The chart on the right is looking at the price action from an inverse perspective.
It seems to me that the bottom of the arcs holding the price action acts as gravity pulling the price down but eventually bouncing off the bottom base of the arc to potentially make new highs.
My personal rule-
**As long as price action takes the shape of these arcs and trendlines it leads me to stay calm as we could potentially reach my star target of 75k USD somewhere in Q1 2022
** If price action for whatever reason falls out of these arcs and creates a "lower low" The bullish structure of BTC will be broken and much damage will take place as we could witness a deleveraging event.
Obviously, there are geopolitical factors that determine the future of where we are going
Fed Taper
Stock Market
DXY
Current technical observations of BTC and Indicies-
BTC pending RSI breakout and RSI bottoming
SPY pending RSI breakout and RSI bottoming
NDX pending RSI breakout and RSI bottoming
I don't think I have seen anyone that is looking at the BTC price action from this perspective... Let me know what you guys think.
I have drawn trendlines from 2017 tops and bottoms to our present 2021 local tops and bottoms with arcs that cup the price action as a safety net for the short to medium term.
I use these arcs to distinguish when to be bear or bull and use them as a dome to navigate price action so I stay level headed when shit hits the fan.
The chart on the right is looking at the price action from an inverse perspective.
It seems to me that the bottom of the arcs holding the price action acts as gravity pulling the price down but eventually bouncing off the bottom base of the arc to potentially make new highs.
My personal rule-
**As long as price action takes the shape of these arcs and trendlines it leads me to stay calm as we could potentially reach my star target of 75k USD somewhere in Q1 2022
** If price action for whatever reason falls out of these arcs and creates a "lower low" The bullish structure of BTC will be broken and much damage will take place as we could witness a deleveraging event.
Obviously, there are geopolitical factors that determine the future of where we are going
Fed Taper
Stock Market
DXY
Current technical observations of BTC and Indicies-
BTC pending RSI breakout and RSI bottoming
SPY pending RSI breakout and RSI bottoming
NDX pending RSI breakout and RSI bottoming
