TomasPhilosophy

Big, medium, small triangle - 6400 was the 2nd bottom

Long
BNC:BLX   Bitcoin Liquid Index
First we had the big bear market descending triangle, then a smaller descending triangle as the start of the bull flag that started in February 2019. In this flag there is a uTorrent, descending scallop and a small symmertrical triangle that had a break out this week.

December montly candle is the only candle that didn't touch the top of the flag. The volume is super low as well.
Noticed that the volume on Bitmex align with both the Fib 0.382 and the 2017 October candle.

I think Bitcoin will continue with forming triangles to finally break out of this flag. When it does -I have a gut feeling it will form a broadening wedge to break out to an adventure for price discovery!

Weekly RSI is low and monthly RSI have just turned bullish.
Comment:
VPVR levels for 2017-2019
There are some important levels from the VPVR volume that aligns good with price movements.

Comment:
VPVR for 2019.
As we see, Bitcoin have touched the biggest volume line from 2017. Also the diagonal trendline from the last bottoms in 2015 and 2018.

This bottom is a smaller version of the ascending triangle in 2018-2019. Where the ascending triangle got squeezed against the VPVR line.
2019 years bull run were also smaller then the 2017 bull run. Makes sense this one is smaller.

Comment:
Even the volume in behaving the same. Except that 40% candle Bitcoin did. That were in fact pretty exceptional. :D

Comment:
We had a perfect double bottom just below 2-year MA-Multiplier, which is the average price for this past 18 months.

imgur.com/kMbARaw

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