The Gann fan shows we are exactly inside a uptrend channel. The $442 low was right on the edge of the channel drawn using the $339 low of April and $683 high of June. We also stopped with $534 exactly to go higher at the 0.61 Fibonacci retracment using these price points.
I think we are going to test $450 as bottom first - again, but after that we are going to rally up.
Bitcoin was able to hold $500, but I see another test of this price area incoming.
ChartArt
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zoomed in even more:
FluidicFX
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Nice chart. Would be great if we stayed in the that double isosceles triangle diamond, but....
Question: if the price drops (again) to around/under $450, won't that mean you'll need to add another ray to the fan? At an even shallower slope.
ChartArt
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If the price drops below $450 I'm going to be become extremely bearish and create a lot of very bearish charts. We have to stay above that price to go up.
Bitcoin was able to hold $500, but I see another test of this price area incoming.