Hi everyone, first of all, before doing anything I want to redirect your attention to another chart, that of Celsius Network. I've been charting charts for quite some time, 10+ years, and I have never to this date discovered two stocks/tokens moving IDENTICALLY, more or less over a period as long as 2 years, on completely different timeframes. One thing is comparing instruments that move identically within the same timeframe with a Beta close to 1 with say indexes such as S&P, NASDAQ etc, while it's totally different when you encounter between two instruments with a timeframe which is 9 months apart!
Here is the chart I've compared TRACs chart with, take a look for yourself. You can also read about the fundamentals of the project in the comments in this link:
www.reddit.com/...c_supply_chain/?utm_source...
As TradingView was missing chart data for Celsius prior to October of 2020, I had to find this from coingecko and paste it in where this data was missing. The length and depth of the chart pasted are accurate, albeit it is displaying daily price closings and not weekly. This shouldn't create many issues in discerning that the patterns are completely identical and that TRAC is literally moving in the steps of CEL. History doesn't necessarily repeat, but it can sure rhyme, and in this case, it seems to be repeating rather than rhyming!
Each to his own! You can notice that I've used the mid-channel line as a major resistance area as not to get overly optimistic on this move, as I do believe that OT may develop a new channel of movement after this.
Here is the chart I've compared TRACs chart with, take a look for yourself. You can also read about the fundamentals of the project in the comments in this link:
www.reddit.com/...c_supply_chain/?utm_source...
As TradingView was missing chart data for Celsius prior to October of 2020, I had to find this from coingecko and paste it in where this data was missing. The length and depth of the chart pasted are accurate, albeit it is displaying daily price closings and not weekly. This shouldn't create many issues in discerning that the patterns are completely identical and that TRAC is literally moving in the steps of CEL. History doesn't necessarily repeat, but it can sure rhyme, and in this case, it seems to be repeating rather than rhyming!
Each to his own! You can notice that I've used the mid-channel line as a major resistance area as not to get overly optimistic on this move, as I do believe that OT may develop a new channel of movement after this.