Hi everyone. Erm... please check this out and discuss? Do you remember that price spike around October 15th around the time everyone was talking about Tether? I actually called that move back then and drew a downtrend line which I subsequently removed.
Because of my analyses and this recollection I redrew this supply/demand line and the results are interesting. I apologize I don't quite have the words to describe everything perfectly right now but I hope that the sequence of images are illustrative enough when combined with what I've been sharing recently... I worked on describing this in images for some time now and am a bit tired I think.
This is what I posted yesterday in another forum, for reference:
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The way I'm looking at my Bitcoin charts it looks like we have until about Apr 01 to shoot for $8500. If this happens we can maybe turn $5000 into support. If we don't break $5000 by Apr 01 I think we could see a test of $750!
So at this point I think maybe we have until the 18th (3 days) to break the downtrend line or we fall towards 2500-2700
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^ to me I think a breakout to the upside is more probable.
Because of my analyses and this recollection I redrew this supply/demand line and the results are interesting. I apologize I don't quite have the words to describe everything perfectly right now but I hope that the sequence of images are illustrative enough when combined with what I've been sharing recently... I worked on describing this in images for some time now and am a bit tired I think.
This is what I posted yesterday in another forum, for reference:
--------------------
The way I'm looking at my Bitcoin charts it looks like we have until about Apr 01 to shoot for $8500. If this happens we can maybe turn $5000 into support. If we don't break $5000 by Apr 01 I think we could see a test of $750!
So at this point I think maybe we have until the 18th (3 days) to break the downtrend line or we fall towards 2500-2700
--------------------
^ to me I think a breakout to the upside is more probable.