BTC to repeat its self?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
So it would appear by this simple and practically irrelevant lines that sometimes work and other times don't.

As we can see by my relatively poorly drawn imaginary lines BTC has formed a simmilar pattern each time we have broken down lower.

Now. Im by no means suggesting that this is any form of advice this is meerly a personal perspective I've whipped together over a cup of coffee .

Now most people say that TA doesnt work in crypto and i can see and understand that perspective in most cryptos, but TA is a tool to find good physiological levels in which people will be looking at for entries. TA doesnt work in low volume markets unless you are looking at market cycles and possible fractals which is understandable. How ever the king of crypto has held the most volume pretty much consecutively since these markets began. Mainly due to the fact that its the largest and most well know, also granted that most other alts have a pair to trade against BTC . Therefor i belive that TA will work well (not perfectly) with BTC generaly due to how many people day trade BTC (not the best idea unless your a super fucking pro with balls of titanium).

Im only opening my perspective to the public to share an oppinon. I know that bears will be jizzing on this chart. I AM SUPER BULLISH ON BTC . I dont think that mcafee will have to eat his dick beacuse i belive that his target could very will be reached, well maybe his first target (500k).

Again let me reiterate this not a sure thing and i hope to fucking jeebus that this doesnt happen. But prepare your anus for every eventuality.

Red lines on chart = resistance
Green lines on chart = Support

Horizontal lines i have found by identifying support or resistance by looking left

Notice the similarity in the rsi before each drop.

Pendants are getting smaller so this could be a good sign of a turn around, if we have a daily close above the red resistance line on the last pendant i would be happy to assume a trend turn around with more confirmations i.e candles. but obviously a break lower would confirm a further downward movement. a good short oppurtunity.

(IDGAF If my spelling is off so you shouldn't ether)

EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out