Continuing my (unreasonable?) interest in radial lines as a type of TA, here's an additional curious take on the familiar 12-year Bitcoin price chart. Explanation:
The yellow radial lines go from a low to the previous high. The convergence area is circled in yellow.
The orange radial lines go from a high to the previous low. The convergence area is circled in...
Continuing my (unreasonable?) interest in radial lines as a type of TA, here's a curious take on the familiar 12-year Bitcoin price chart. I don't put much faith in the last radial line (because of the late 2023 date), but it does represent an interesting "idea".
By the way: I'm somewhat critical of those who "fit" a couple of curved lines to Bitcoin's 12-year...
Can anyone explain what underlying technical analysis principals define a pattern like this? Please explore this chart from present to past and let me know what you think.
The origin point for this "radial scaffolding" is at $7,510.00 (2017-11-14 17:00:00). If you draw a trend line from that point through the chart history, you'll often find many matching points...
