You can get back more and you will find a channel that explain what Bitcoin is dooing.
Break up of a channel is always a great opportunity to get $$$.
Now we have to understand in which channel is Floating bitcoin.
More explanations follow
Break up of a channel is always a great opportunity to get $$$.
Now we have to understand in which channel is Floating bitcoin.
More explanations follow
Kommentar:
another example
another example
Kommentar:
we actually left the blue channel after the break up. confirmation was the 6k low of Februar . Reversal happened outside this channel. I tought it will become a resistance for bitcoin. But actually it 's trying to break it up another time
we actually left the blue channel after the break up. confirmation was the 6k low of Februar . Reversal happened outside this channel. I tought it will become a resistance for bitcoin. But actually it 's trying to break it up another time
Kommentar:
We found Support on the red line (also a channel, i left it for the final huge Picture). The dashed red is the possible channel forming projecting a new upper channel line from ATH
We found Support on the red line (also a channel, i left it for the final huge Picture). The dashed red is the possible channel forming projecting a new upper channel line from ATH
Kommentar:
In each case we cannot negate that we are in a downward channel. After Break up form the blue line, it found Support again on the blue line. Form this Point to the 6k low we are exactely parallel to the uppward dashed line = channel
In each case we cannot negate that we are in a downward channel. After Break up form the blue line, it found Support again on the blue line. Form this Point to the 6k low we are exactely parallel to the uppward dashed line = channel
Kommentar:
Pattern still Looks bearish
Pattern still Looks bearish
Kommentar:
that let me think that a retest of the red line is possible. Furthermore this line was resistance before the last break up to ATH.
Kommentar:
or find Support on the blue line again and go higher?
or find Support on the blue line again and go higher?
Kommentar:
The big picture is that we have also broken a big channel. for the same rule that i explaned at the beginning it could Project bitcoin to 50K
The big picture is that we have also broken a big channel. for the same rule that i explaned at the beginning it could Project bitcoin to 50K
Next top of a break out is approximately of the same logarithmic Magnitude of the old channel width