FIL / BTC still in the same uptrend it began in March
Weird chart here, a bit unconventional - but... if you draw trend lines along the current 30 min chart pattern's top and bottom, and again along the 4H chart in the same two areas:
- it connects back to pivot points along the uptrend from back in March.
It looks like we should've continued by forming a parallel uptrend from there, but instead of this slow and steady uptrend forming within a channel; with the anticipation of strong continuation, it rose significantly above where we should've and has now corrected.
So, now - we've corrected back down within the channel that should've formed to begin with. It is slowly beginning to tighten, and may yet get broken above again.
Let's see what happens. At the least, I expect we touch the top two trend-lines again, and then continue to move within the channel... if we don't break above it fairly quickly after touching the top again.
- it connects back to pivot points along the uptrend from back in March.
It looks like we should've continued by forming a parallel uptrend from there, but instead of this slow and steady uptrend forming within a channel; with the anticipation of strong continuation, it rose significantly above where we should've and has now corrected.
So, now - we've corrected back down within the channel that should've formed to begin with. It is slowly beginning to tighten, and may yet get broken above again.
Let's see what happens. At the least, I expect we touch the top two trend-lines again, and then continue to move within the channel... if we don't break above it fairly quickly after touching the top again.
