BTC Channel Full
After the strong bounce the other day from 92k (black dashed line) i was curious whether there was any other price action that respected this trend.
I started by taking the trend from the bull market highs of the previous 2 cycles, then keeping the same gradient moved to the bounce at 92k we had the other day and drew a trend line at the same gradient.
Interestingly price has reacted to this trend line multiple times ever since the bottom straight after the 2017 bull market.
Copied the gradient across the chart seeing the price action respecting this gradient multiple times.
Created a trend line of best fit from the bottom of the range to our current high (thin red dashed lines). Measured gradient and copied and pasted to the 2017 and 2021 bull markets inverting the gradient for the swings to the bottom of the channel.
Created another trend line (thick red dashed) to see where the above dashed lines were intersecting and noticed where they were intersecting the thick dashed line on roughly the same day.
I started by taking the trend from the bull market highs of the previous 2 cycles, then keeping the same gradient moved to the bounce at 92k we had the other day and drew a trend line at the same gradient.
Interestingly price has reacted to this trend line multiple times ever since the bottom straight after the 2017 bull market.
Copied the gradient across the chart seeing the price action respecting this gradient multiple times.
Created a trend line of best fit from the bottom of the range to our current high (thin red dashed lines). Measured gradient and copied and pasted to the 2017 and 2021 bull markets inverting the gradient for the swings to the bottom of the channel.
Created another trend line (thick red dashed) to see where the above dashed lines were intersecting and noticed where they were intersecting the thick dashed line on roughly the same day.
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