BTC is currently testing support on its major ascending trendline. If we breach this trendline, i quickly expect a retest of the 6k lows.
If we continue to bounce off of that trend line, depending on the speed of the bounce, i have labeled price points for when it would meet the shorter, descending trendline.
the price points from highest to lowest are roughly the following dates:
mar 19 10150
mar 24 9600
mar 29 9100
april 3 8500 assuming the price stays within the 2 trend lines, this is the approximate date and price at which the two trend lines will converge.
short term looking for bounce to the above mentioned prices/dates (again assuming, we hold the ascending trend)
If we continue to bounce off of that trend line, depending on the speed of the bounce, i have labeled price points for when it would meet the shorter, descending trendline.
the price points from highest to lowest are roughly the following dates:
mar 19 10150
mar 24 9600
mar 29 9100
april 3 8500 assuming the price stays within the 2 trend lines, this is the approximate date and price at which the two trend lines will converge.
short term looking for bounce to the above mentioned prices/dates (again assuming, we hold the ascending trend)
Comment:
(and the lower price bubble is simply for price reference.... it should not be viewed with any sort of time value attached to it)