Welcome to my rally analysis thread
I said a while ago, if we go through the upper line of the yearly channel we have a chance for a real rally and then its time to get excited and analyze the new situation.
So let's go...
What happened before?
What now? The "fomo" channel was not sustainable. We are looking for a new support line.
I expect one of this:
360: part of the yearly channel, already tested, triangle is forming on it right now. could be already the low.
340: yearly channel, heavy support expected
320: we already tested this few days ago, I dont think we can fall below it.
I expect 360 was already the lowest and we go up again from here but 340 could happen, 320 is very unlikely.
next posts to come:
- possible long term patterns
- gold-bitcoin anti-correlation / correlation
- why is bitcoin demand increasing
- good and bad news comparison
disclaimer: I am not an expert in ta. I hold bitcoin and am long term bullish.