BTC currently completed a 3 drive to a top, with FIB symmetry. Whilst also being in the middle of a a Right Angled Ascending Broadening Wedge, talk about fuckery. The bearish side of the wedge is, if price fails to reach the upper trend line, it's a big indication that price has topped, price should come back and test the lower support line, bounce, retest the support line and fall through it. The oscillators (RSI and Composite Index) are following their respective trend lines. The chart on the right is with a pitchfork added, it blows my mind that the fibs overlapped and crossed the 0.5 line at the exact place price topped out...
No doubt we are bullish, but the weekly chart of BTC 2011
the bear market ended with divergence, that's how a bottom is in
same here in 2014 -
for the end of the 2018 bear market there has been no divergence (except on the daily) -
the monthly chart for BTC in 2014 again ended with divergence -
monthly chart comparison -
both have made W bottoms, a bottom isnt sustainable if its made by a W as seen in 2014 (needs divergence)
monthly C Index and RSI are both at their respective resistances -
the RSI for the monthly is still technically in a bear market whilst below the 65 level
On the bullish side of things, lord have mercy on the bears if we breach this 3 drive to a top, price will moon.
The Fib Kid.
No doubt we are bullish, but the weekly chart of BTC 2011
same here in 2014 -
monthly C Index and RSI are both at their respective resistances -
On the bullish side of things, lord have mercy on the bears if we breach this 3 drive to a top, price will moon.
The Fib Kid.