When I extrapolate these two lines back, they meet together at the baseline at 90$.
Lots of arrows pointing at 90. Gonna be really interesting to see how reality plays out. the chart is pretty much drawing itself
Big red arrow: BCH fork announced to take place on May 15. forks being used to manipulate the market?
quick update to get the trend lines laid out. we can see that the pink line which formed a triangle was broken, and then the last two weeks were spent confirming that line as resistance. now that price rejected from the pink line, we catch support on the yellow trend line. probably (in my opinion) - the next move down will be down to the falling wedge line on the daily (blue) and the next one down would be the green line, which is the floor, if my idea is correct, which, remains to be seen.
now I'm seeing price being squeezed into a triangle here, with an inverse H&S taking shape, with breakout and confirmation with close of a 4 hr candle above 97.5/98 ish. ive had a couple of formations that came up short of their targets over the last few weeks, and on each of those breakouts I took note of weaker volume at breakout.. so be sure to be watching for strong volume on those breakouts to be confident that the target may be hit. the target of this inverse H&S is in the 110 area but there is hefty resistance around 106/107/108