I know there are a lot of lines in this story. It is an unique perspective, and only intended to show something different than what most will draw. Bear with me if you care to. The underlying message is price point should gravitate towards the red dashed line through the beginning of April, if you want simplicity.
Blue rectangles are downchannel breakouts (1 failed, 2 successful, 1 projected)
Downchannels: 1/3 - White; 2/3 - Orange; 3/3 - Red
Upchannels: 1/3 - Green; 2/3 - Blue; 3/3 - Purple
Yellow horizontal lines: We have a situation
Red Horizontal Lines: We have a PROBLEM
RED DASHED LINE: Drawn from the September High through mid- to late- October, when BTCUSD 0.63% held around 5.5k at its most consistent point since then. (drag over to see)
Sideways action is healthy, and good. This is necessary to bring in fresh cash until the implementation phase when your friends and family won't just be interested in crypto, they will actually NEED it for active examples of the "use cases" upon which all of the promises of 2017 were made. The "buy when there's blood in the streets" phase was the bounce from 5.5-6k. Now is a time to define a new normal in advance of the innovations about to be poured out over the public.
The possibility of this being the "bull flag" phase prior to capitulation on a stylistic bubble graph wanes with each day crypto holds value.
This is accumulation territory.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
Blue rectangles are downchannel breakouts (1 failed, 2 successful, 1 projected)
Downchannels: 1/3 - White; 2/3 - Orange; 3/3 - Red
Upchannels: 1/3 - Green; 2/3 - Blue; 3/3 - Purple
Yellow horizontal lines: We have a situation
Red Horizontal Lines: We have a PROBLEM
RED DASHED LINE: Drawn from the September High through mid- to late- October, when BTCUSD 0.63% held around 5.5k at its most consistent point since then. (drag over to see)
Sideways action is healthy, and good. This is necessary to bring in fresh cash until the implementation phase when your friends and family won't just be interested in crypto, they will actually NEED it for active examples of the "use cases" upon which all of the promises of 2017 were made. The "buy when there's blood in the streets" phase was the bounce from 5.5-6k. Now is a time to define a new normal in advance of the innovations about to be poured out over the public.
The possibility of this being the "bull flag" phase prior to capitulation on a stylistic bubble graph wanes with each day crypto holds value.
This is accumulation territory.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.