I just cant help to be amazed about this.. Look at the perfect channel from late 2014-today. Touching the bottom line, touching the top line, again and again, until it breaks thru, then retests the top of the channel and goes parabolic. This illustrates clearly what a bubble is, and what sustainable growth looks like.
And would you look at this : When we in november are entering the channel from above, it immideately collapses to the bottom of the channel. Amazing, right ? Why didnt we all see this... I guess some of you shorters did :p
Zoom in in the chart... seriously. amazing, right ? Zoom in on the last month or so... dancing its sexy dance just tappin softly on the bottom of the channel. Just dancin right off it. BTC is so sexy, it must be a girl
Will be interesting to see how this channel works out over the next years.
leave a like, if you like to
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now we are nearing the top of the channel. Will be intersting to see if it bounces. Will be very interesting to see what happens if we actually breaks the channel upwards.
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ok, so we broke the channel, a little retrace and a bounce on the channel. This is super bullish, if top of channel holds
That is the most reasonable chart I've seen in a while. Congrats. :-)
Here is my explanation of what I see.
I look at your channel as a road where the driver will veer from side to side, sometimes even driving on the shoulder of the road occasionally. This occurred from 2015 to May 2017.
But if you look at what happened after May 11, 2017, the driver went off the road and into a farmer's corn field, driving erratically for a month until he encountered the road again on July 16, 2017. He spent the next 6 months driving northeast into the cornfield until he reached 20k. Then he zigzagged eastward until he found the road again on Nov 2018 where he over steered and drove across the road and into the ditch on the other side, throwing out many of the passengers. He found the road again on April 1st 2019 and stayed on the road until just recently.
This erratic behavior between May 11, 2017 and Nov 4, 2018 suggests to me, was all a manufactured price movement. In other words, too many people piled into the BTC car and took control of the car and drove it like it was stolen, destroying property along the way. Now it appears the driver may be going off-roading yet again, probably looking for 20k. If he stays on the road we will get a nice predictable price movement. This is what BTC will do a few years from now when the price movement stabilizes from millions of people using it every day. But if he is going off-roading we will see some more erratic price swings in both directions similar to what we saw in 2017.
I hope you will enjoy the ride for the next year or two. I think it will be a doozy!
NaturalPatterns
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@BDG, i agree with you, and lol "......the driver went off the road and into a farmer's corn field, driving erratically for a month"
thats pretty funny :)
NaturalPatterns
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ok, so the 4-5 year "sustainable channel" is broken to the upside. sick. disbelief phase ? for me - yes. who cares - nobody - and thats good.
maybe btc fomo is good. maybe we abc to 2k. or maybe we 30k, like they said in dewc 2017 was soon.
I can trade normal stuff, but honestly... parabolic s** ........ please link me up , brother :
Here is my explanation of what I see.
I look at your channel as a road where the driver will veer from side to side, sometimes even driving on the shoulder of the road occasionally. This occurred from 2015 to May 2017.
But if you look at what happened after May 11, 2017, the driver went off the road and into a farmer's corn field, driving erratically for a month until he encountered the road again on July 16, 2017. He spent the next 6 months driving northeast into the cornfield until he reached 20k. Then he zigzagged eastward until he found the road again on Nov 2018 where he over steered and drove across the road and into the ditch on the other side, throwing out many of the passengers. He found the road again on April 1st 2019 and stayed on the road until just recently.
This erratic behavior between May 11, 2017 and Nov 4, 2018 suggests to me, was all a manufactured price movement. In other words, too many people piled into the BTC car and took control of the car and drove it like it was stolen, destroying property along the way. Now it appears the driver may be going off-roading yet again, probably looking for 20k. If he stays on the road we will get a nice predictable price movement. This is what BTC will do a few years from now when the price movement stabilizes from millions of people using it every day. But if he is going off-roading we will see some more erratic price swings in both directions similar to what we saw in 2017.
I hope you will enjoy the ride for the next year or two. I think it will be a doozy!