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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 -
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 -
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.
