This is my first chart to post, Bitcoin has followed this trendline well so far with ~11 tests.
Is it leading us to the primary support level of 30k? If so, that puts us at a decision point near 7/22/21.
Failure of the 30k may suggest a sharp drop downward.
Other notes, the 35k level seems to be a key level with several tests.
If Bitcoin were to rise from here it would likely have to breakthrough resistance at every level on this trendline (too many to list) ultimately before the big test at 42k.
My opinion is that if Bitcoin rises above 42k, we would see the other popular cryptocurrencies rise up sharply soon after.
Lastly, I realize there would've been more prominent volume on a more popular exchange like Coinbase, but I already had my lines drawn on this one!
Is it leading us to the primary support level of 30k? If so, that puts us at a decision point near 7/22/21.
Failure of the 30k may suggest a sharp drop downward.
Other notes, the 35k level seems to be a key level with several tests.
If Bitcoin were to rise from here it would likely have to breakthrough resistance at every level on this trendline (too many to list) ultimately before the big test at 42k.
My opinion is that if Bitcoin rises above 42k, we would see the other popular cryptocurrencies rise up sharply soon after.
Lastly, I realize there would've been more prominent volume on a more popular exchange like Coinbase, but I already had my lines drawn on this one!
Comment:
well i missed the inflection point by only 1 day! not bad for a forecast nearly a month out!