BTC has been in a strong upward trend since middle of December, keeping quite strictly to a fairly narrow with minimal .
Increases of 15-20% in 5-9 days have repeated with a few days of sideways or mild depreciation between (15% up, sideways slight downward. 15% up, sideways slight downward. 15% up, sideways slight downward. ... ).
By tracking BTC's movement in the channel and watching for intersection with the channel boundaries, we can identify good times to buy and stack. This is after drops when the price is meeting the low boundary of the channel, or sometimes when it hits the mid-way in the channel.
And we can make estimations (if the trend holds), noting areas of previous resistance and support.
For example, we see that $10,000 is a significant level of resistance and support due to psychology.
Feb 15, 2020
This past week, price of 1.0BTC has hovered above $10,000USD, finding resistance at the top of the channel, and now dipping below $10,000 mark.
We are reaching the bottom of the , and I expect price to increase ~15% in the next week. I anticipate a few more days of sideways action at or below this price point, followed by an increase of 10-15% over 5-10 days, hitting $11,000-11,300 before the next cycle. Anything below $10,000 is a BUY.
At about the $11,000 mark is more resistance. Pressing through this will result in it becoming support.
Interestingly, my tightening triangle channel points exactly to a date that lines up with the halvening. This was not intentional, but I do believe that post-halvening, this trend will likely break. "All bets are off" at that point, so to speak, and a new trend will form.
You can view it here: hxxps://imgurcom/a/x5VVzBK