In keeping with my approach of less is more, and looking at linear price data (I only like to use log when looking at the more macro-long-term trends) you can clearly see that the current price action is testing the resistance level of the top of the downtrend channel (top green line).
We can also see that a nice, if admittedly imperfect, inverse...
After an initial run up from ±€8,400 to €8,700, #BTC seems to be finding support around the €8,700 level and resistance around €8,750.
This is clearer at a 1min timeframe.
I see a clear long-term pattern developing.
First we had a strong parabolic advance, which once breached, lead to range bound trading for ± a year.
Then we had another strong parabolic advance, which once again breached, appears to be leading to range bound trading again.
I will keep a careful eye on how this develops, to see if there are any signs that a new...
