BTC/USD has broken out of the $25,000 and $33,000 trading range, reaching $35,000 and nearing the top of the bull channel. Does this mean the next bull run has begun? Unlikely. I believe we are missing a few key events before we see a bull run to the next all-time high.
BTC has yet to touch lifetime support as it has the last 2 out of 3 bull runs to new...
It seems Bitcoin has broken its channel, and now is pulling back to that. This scenario will be confirmed by breaking the main support as shown on the chart. If it breaks the next support is $24500.
BTC has a logarithmic channel and any time that touched the bottom line of this channel it has a jump to mid line or straight going to up line of channel. And this time the mid line is within 190.000 $
BITSTAMP:BTCUSD
BTC/USD Weekly Channel Since 2013
Do you think history repeats itself?
If it happens again, 230k can be the top of weekly channel.
* This is not a financial advice
The Cosmic Flow indicator is useful in helping decide whether a symbol is following a dynamic channel or not, and if it is, how large or small of a channel it is.
This particular tactic has the indicator cloned with the Resistance Length and Support Length values inverted.
The output shows that the current price is inside a relatively wide channel (roughly...
BTC channel is actually quite huge we could drop to 31k and still be inside the bullish channel to move up. Right now most likely go to 45K with a lot of limit orders and we were just very high on the top of the channel and just a correction to the bottom not be so close to the top of the channel, however I hope we don't move to the bottom of the channel as we are...
