Is it correct to assume the above?

Bitcoin / TetherUSBinance

Description

⋅ Feb 18, 2018 3:27 PM

Good Day All,

Am New to charting, and with the very Little I know, I :
a) Connected The Bear Market lines,
b ) Drew the "Bull" market lines,

Assuming that since the market is now in the "healthy" range, it may resume the previous trend??
Apologies if this is wrong,

Trend Analysis

Comments

EspressoDopio

⋅ Feb 19, 2018 2:49 AM

Good perspective. Thanks for sharing.
9.7k will probably need to be retested again so any run has that long term support

ttt4567

⋅ Feb 18, 2018 3:55 PM

Not too bad IMO.

You could have drawn the upward trend as elliot waves though, which would mean that your downward red line is 4th leg, and upward red line is 5th leg. (Little bit long for elliot wave IMO)
Furthermore, have a look at my profile, there‘s an interesting possibility for a big inverse Head&Shoulders pattern.

Cheers!