I was plotting some simple trend-lines on the two lowest points (marked with dark-blue arrows) and the two highest points from the last few days (marked with pink arrows).
Because of the possible ascending wedge we're in (red triangle).
Chart was still in extend-mode .. and i noticed that that imaginary pink line has always been there .. since 2011. It doesn't always perfectly hit it (could be differences in exchanges..) but surely looks like it has real substance, the little BTC-logos ...
So i though, how about doing the same for the 2 lowest points ever (the purple line)
to my now even bigger surprise ..
the pink and purple lines intersect in November 2018 .. during that nasty fall from 6k to +3k.
I'm really curious what will happen next, now those lines are flipped.
I know its just Pareidolia .. draw random lines anywhere, on any 2 points .. it will always intersect something .. since the pink line cannot have formed in Hindsight and i find it highly unlikely BTC respected a line that was barely formed before 2013. Unless time is non-linear/non-chronological ..
BTW: BTC is still under that pareidolia long-term purple support line until 11k - 13k (or beyond if it cuts the blue one again)
Because of the possible ascending wedge we're in (red triangle).
Chart was still in extend-mode .. and i noticed that that imaginary pink line has always been there .. since 2011. It doesn't always perfectly hit it (could be differences in exchanges..) but surely looks like it has real substance, the little BTC-logos ...
So i though, how about doing the same for the 2 lowest points ever (the purple line)
to my now even bigger surprise ..
the pink and purple lines intersect in November 2018 .. during that nasty fall from 6k to +3k.
I'm really curious what will happen next, now those lines are flipped.
I know its just Pareidolia .. draw random lines anywhere, on any 2 points .. it will always intersect something .. since the pink line cannot have formed in Hindsight and i find it highly unlikely BTC respected a line that was barely formed before 2013. Unless time is non-linear/non-chronological ..
BTW: BTC is still under that pareidolia long-term purple support line until 11k - 13k (or beyond if it cuts the blue one again)
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there's the other imaginary line already
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not sure why the line shifts when changing from daily to hourly .. but it hit the line on hourly
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Approaching "Purple" for the 3rd time, this time in a much calmer way, not hasty like the first 2 attempts
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May 14-16 had a similar situation which failed, only 2 attempts then time was up .. volume was flatter and May 12 already gave a forewarning
so .. maybe more luck this time ?
so .. maybe more luck this time ?
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I don't do "predictions"
I leave that for the observer ..
BTC has reached the top of the blue uptrend, there are enormous amounts of sell-orders stacked here (don't know about shorts atm ..)
so ..i sold ;)
I leave that for the observer ..
BTC has reached the top of the blue uptrend, there are enormous amounts of sell-orders stacked here (don't know about shorts atm ..)
so ..i sold ;)
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sold here ..
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Every time i underestimate human greed
EVERY TIME
.. at least I'm consistent
:(
EVERY TIME
.. at least I'm consistent
:(
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Hi there 12k long time no see LOL
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update: smaller timeframe, what's happening within the blue uptrend ?!
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Last/Final update on this one
Blue uptrend channel definitely broken
Jumping in and out of Purple/Pink ..
Going under now ..
Blue uptrend channel definitely broken
Jumping in and out of Purple/Pink ..
Going under now ..
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a new line seems to have emerged
close-up of current trend
close-up of current trend
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oh no ..it's (at) the purple line again (hit play a few times)
... the exact bottom of December 2018