codemonkeytx
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codemonkeytx
Who would be surprised to see BTC at the top of this channel which BTC has respected since 2013. I know I would.. right now it seems unthinkable that btc hits $250k. more than double its current price which is already at ATH. There are a lot of catalyst that can happen this year though.. Strategic Reserve, Bank adoption, Countries hording. So let's see. Historical support / resistance with over 11yrs of history to it.
codemonkeytx
This saying has been engrained in wallstreet for decades. So laying over the fractal of the last leg up gives an idea of what the next couple months could look like. The Monthly RSI needs to get up around 90 based on previous cycle tops but what exactly will happen. No one knows.
codemonkeytx
Bitcoin has history with this channel going back to 2015. Multiple bottom and top channel touches over an 8 year period. '15 to '23. #powerlaw #bitcoin We have a double touch on the bottom and visits to the top are actually more frequent over time. At the moment we are sitting towards the bottom around $45k suprissing to see on log that bitcoin appears to be resting on a double bottom. If history rhymes it shows a potential for 200 to 270k top.
codemonkeytx
codemonkeytx
Its been respecting the TA like a champ. Top of this channel puts it around $12.. so it seems possible. DYOR .. could go to 0.
codemonkeytx
I seem to think so. Its right at the 1.618. Robinhood wallets and Elon accepting it for Teslas likely to be enough for a blow off top. Then again it can go to zero before that.. this coin has a tendency to drop like a rock after a run. Do Your Own Research.
codemonkeytx
Just an opinion.. looks bullish. If it can flip the current resistance to support I see a lot of potential upside.. if btc dumps we're probably going back to 80 cents
codemonkeytx
Longterm channels are amazing when you see how often the run/respect the same lines. 5 to 6k for a regular cycle looks possible.. 14k for a super cycle
codemonkeytx
Following its demand lines.. looking interesting.
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