I am not sure if this means anything or not...
If you take the candle when Bitcoin really broke down November 14, 2018... and then mark a point below it around $2,100... you can draw trendlines that correspond to the price action over the last few months.
As the future data is unknown, i drew a gann fan from the latest trendline to the $2100 level... just to see if it has any meaning in the future.
Could this be an anomaly of a clue that the ultimate bottom will be around $2,100? Is the bottom already in?
Can't deny the touches on these lines, question is if the mean anything going further. And a final note, once bitcoin lost a trendline, it has yet to have a full candle (open and close) above that trendline.
-Travis
JMJ - UIOGD
If you take the candle when Bitcoin really broke down November 14, 2018... and then mark a point below it around $2,100... you can draw trendlines that correspond to the price action over the last few months.
As the future data is unknown, i drew a gann fan from the latest trendline to the $2100 level... just to see if it has any meaning in the future.
Could this be an anomaly of a clue that the ultimate bottom will be around $2,100? Is the bottom already in?
Can't deny the touches on these lines, question is if the mean anything going further. And a final note, once bitcoin lost a trendline, it has yet to have a full candle (open and close) above that trendline.
-Travis
JMJ - UIOGD
Comment:
i just looked at these Gann lines from over two years ago.... and wow, the support/resistance touches and wicks they caught. Two years later, see the wicks on the dumps on March 25 and April 18. If we bounce from this support eventually, next stop for bitcoin is in the $120,000 range, depending on timing.
