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dharmatech

Fan Principle for Bitcoin

Short
Bitcoin (COINBASE:BTCUSD)  
dharmatech  
COINBASE:BTCUSD   Bitcoin
Trend Analysis Supply and Demand Bitcoin (Cryptocurrency) fan-principle Contains image
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0
trendanalysis supplyanddemand bitcoin fan-principle containsimage
John Murphy's classic book 'Technical Analysis of the Financial Markets' mentions the 'fan principle'.

Going with that model, lines 1 and 2 have formed for Bitcoin.

It appears that a possible 3rd fan line is in the works.

The 3rd line shown here has provided resistance twice.
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