Today will confirm or deny a "bull flag" descending wedge breakout that has been forming for the last month. You can also see how PIVX has not returned to bottom of a six-month regression channel and is instead hovering in the middle.
I have so consistently been wrong about not where, but When this is headed....but these channels keep demonstrating their efficacy. Perhaps it's useful to somebody out there! And thank you for sharing all your useful ideas as well.
These old trendlines are important pivot points , and the far-far out perspective is needed to help calculate longer-term trend. A wedge began taking shape in 1998, to find it's bottom support in 1999. It consolidated inside this shape until 2008 when it fell below support, only to reverse and spend three years on a rally, into 2015. A year of southward correction...
The chart says it all, in pretty colors and squiggles.
I'm buying in layers for a longer long, taking profits here and there on the rips. If it heads down, I'll reverse and layer in the sells. Works for me !