This is that Pink and Blue Regression Band that Bitcoin has been in since the March dump . You can see we just wicked the bottom edge of the pink part of the band earlier today near 10600 . We are still inside it though and unless we go down and close below the band then we are still good to see some upside. See the red arrow ? Near 14k ? That is going to wick...
Sorry ! But that pink and blue regression band is too tight for me ! Whilst there might be slight upside - I honestly feel in mid-summer we should be seeing some pullbacks soon . Some nice pullbacks would be great set ups for end of August buys . Would love to see this pick a direction soon . A pullback to 7xx would be great .
The Main Trend is uptrend channel is made .. if tomorrow open's below the middle channel line then shortfall till channel support also it is at 45 Min downtrend .. S = R represent Support turns resistance an vice versa ( imp level )
The bottom white curve is the log regression of Bitcoin's price action since its inception. The regression was broken on March 12 when Bitcoin shit itself to the 5000s. Each line in the rainbow of curves represents a fibonacci multiple of the bottom regression line. The regression is multiples are your typical retracements from 0 --> 1 (.236, .382, .5, .618, .786,...
In my experience, charts have a strong attraction to moving towards multiple pattern convergence areas. Why? Because they're zones where a lot of emotion is triggered, aka lots of people will be involved. Market makers need to get you involved. That's why things drop just below your favorite area of the chart, get you emotionally triggered, and _then_ reverse. ...
BITFINEX:BTCUSDLONGS "The chart speaks louder than words" Time frame: Daily Sentiment: Bullish (long) Daily bitcoin technical analysis with fewer words and more information so that you can have maximum information just with a glance without wasting any time. Any thoughts on technical analysis of BTC are always welcome in Comment Section. If you find...
Price has greatly respected this pitchfork, and it has served as a useful guide. Here we see that the .5 - .618 area has served as a strong support and resistance zone in the past. As of writing, the 7,400 - 7,500$ area falls in this range and is where price becomes more likely to bounce and test old highs. In my opinion, target points from longs taken in this...
Inspired by the logarithmic regression models in the old bitcoin forum thread , I drew up the above macro chart. Disclaimer: I don't believe this chart has any predictive value. At all. This is for entertainment purposes only. Nonetheless, I find this chart highly fascinating. Bitcoins fractal nature couldn't be more obvious. Some observations: The baseline has...