The Purpose of this chart is to serve as a guide for you to know when it's safe to buy bitcoin, as you know charts are made by two axis, price and time, both variables are equally important, therefore a good buy must be placed at the right price and at the right time, trying to anticipate a good buy opportunity can result in a failure of the timing causing you to lose money. So when is safe to buy? simple, keep track of this chart and buy when the price meets the yellow support line, right now price is in the middle of the road, don't buy now, The line on the right chart (big picture) I pointed a major support for bitcoin, this line has held since 2012, it raises about $200 every 12 days, the longer bitcoin holds above $6000 the less it will drop, this line with reach $6000 at around December 23, it is an estimated, all this numbers and dates have a small error. why this support will continue to hold? because the bitcoin fundamentals for what it was created still remain intact, this support is the representation of those fundamentals, it shows us that Bitcoin is has been in a major uptrend since then. If you want to get more detailed updates keep in tune with this link t.me/joinchat/AAAAAEoCM5E9iij2u1OTtA
Comment:
What will happen if bitcoin does not react to this line and keeps sideways move? it will take a long accumulation time (months) before forming a new uptrend and the market will turn very boring.