So I thought Id test this on BTC:
Starting from left to right, we start off with:
15o angle which lasts 60 days, definitely a sustainable uptrend.
46o angle which lasts 17 days, still sustainable but on the higher end, it also shows us a big shift in momentum.
65o angle which lasts 10 days, obviously looking back this is not sustainable.
75o angle which lasts 9 days, we should be very worried about a downtrend coming.
over all downtrend has been a -45o very sustainable downtrend over 99 days.
-74o over 8 days, very sharp downtrend obviously not sustainable.
-69o over 5 days, again not sustainable.
-55o over 32 days, long drop but not sustainable.
currently we are in a very sustainable -36o drop and still very close to the over all -45o drop.
As you can see the smaller angle uptrends and downtrends last much longer than the more volatile moves. It's also a good tool to notice when trends/momentum are changing, possibly for entry and exits. Along with that knowing something is in a 75o uptrend, we can be more alert, set stops or make sure we are watching the charts for drops.
Looking at the bigger picture it makes me believe that everything in the yellow box over a 45o increase is just hype and therefore not sustainable, at least without any new BIG hype and new money.
From a psychology perspective I believe BTC needs are really hard drop far below the yellow box, into a more sustainable price, before new money will be intrested again. Even then it's going to be hard sell to new investors. "buy bitcoin , yes it did drop from 20k to 4k but what a risk free investment". A drop like this, whilst puts BTC back into a more sustainable reality price, also shows that the market is very volatile, which could stop potential new money investments.
I would guesstimate range between 4000 to 8000 seems sustainable, but only time will tell.
*Note I am not a financial advisor, these are just ideas for you to think about, educational purposes only*.
To prevent this reset the chart, press 'CTRL ALT Q' this resets the chart, then draw the angels on daily chart.
After you've drawn the angles, draw over the top of them with the line tool and delete the angles.
current down trend is -63o which I would say is not sustainable, we should see a retrace soon
What does this mean? who knows, I would assume it means the bears are starting to get tired and the bulls are starting to get stronger, but only time will tell, let's watch together, I'll update soon.
Well done and thank you for the research you put in.