Yes, you've predicted $10 bitcoins on May 30th. Looks like you're doing everything right.
Do I have it right that where the point converges is roughly the time range where we can expect a breakout?
Chart pattern technical analysis isn't easy. I see where you're coming from with the Falling Wedge, but I wouldn't be considering that formation just eyeballing the chart. My personal rule for any lines is no more than 4, and if I can help it - just 3 or less.
So how do you identify patterns? Do you even assign patterns that much weight versus your previous observations and rules for price reactions?
At this point I'd be drawing a long-term trendline underneath the lows that were made from around April 15th and early May. We've already been "flat" enough that drawing an upper line connecting recent highs would've been broken out of, so it invalidates that anyway.
thank you, that now makes a bit more sense to me.
The best you can say at the moment is that it is above a longer-term trendline. But the thing about trendlines is they aren't containers or deflectors - merely rulers to compare to price action.
There are many indicators, so I won't go into all that - but I would encourage you to formulate your own rules for how price reacts and different points - Highs and Lows, and proceed from there. Some of my most useful tools came from refinement and observation over long periods of time.
I've been watching charts for maybe a year, I know I have so much further to go. In the mean time, hopefully fundamental analysis can get me by (it's just timing that screws me!). Thank you Timm!