[07/27] Bitcoin; Consideration of Parallel Channel
Bitcoin; Consideration of Parallel Channel
Let's look at the point when a strong decline occurred and the decline calmed down a little after reaching 69k, the high point of the bitcoin market.
In the rising parallel channel formed from 32k, three mountains (I refer to mountain-shaped charts created by repeatedly rising and falling stock prices) appeared, and the bottom line of the parallel channel was deviated downward, resulting in a strong decline.
And as the decline calmed down, from 27k, a new upward parallel channel was formed, which also deviated downward from the bottom line of the parallel channel after three mountain charts appeared, resulting in a strong fall.
And now, the rising parallel channel has been formed since the low point of 17.6k.
The chart is flowing in a similar way to the pattern I mentioned earlier. If we put this fractional analysis into the present, the third peak of the mountain is now formed, and it's down to the bottom of the parallel channel. Assuming that the same pattern comes out, you can see it as a place where you can deviate from the bottom line of the parallel channel and make a big drop.
So what's the target price for Bitcoin decline?
The first parallel channel out-of-bottom drop was around 45% from "high point in parallel channel" to "start point of next parallel channel".
Then, the parallel channel outfall fell by 45 percent from "high point in parallel channel" to "start point of next parallel channel."
Through this, it can be inferred that Bitcoin can fall by 45% based on the current market price, and the value will be about 13.3k.
It's one of the different analyses, so just refer to it!
Thank you for reading this long analysis :)
Let's look at the point when a strong decline occurred and the decline calmed down a little after reaching 69k, the high point of the bitcoin market.
In the rising parallel channel formed from 32k, three mountains (I refer to mountain-shaped charts created by repeatedly rising and falling stock prices) appeared, and the bottom line of the parallel channel was deviated downward, resulting in a strong decline.
And as the decline calmed down, from 27k, a new upward parallel channel was formed, which also deviated downward from the bottom line of the parallel channel after three mountain charts appeared, resulting in a strong fall.
And now, the rising parallel channel has been formed since the low point of 17.6k.
The chart is flowing in a similar way to the pattern I mentioned earlier. If we put this fractional analysis into the present, the third peak of the mountain is now formed, and it's down to the bottom of the parallel channel. Assuming that the same pattern comes out, you can see it as a place where you can deviate from the bottom line of the parallel channel and make a big drop.
So what's the target price for Bitcoin decline?
The first parallel channel out-of-bottom drop was around 45% from "high point in parallel channel" to "start point of next parallel channel".
Then, the parallel channel outfall fell by 45 percent from "high point in parallel channel" to "start point of next parallel channel."
Through this, it can be inferred that Bitcoin can fall by 45% based on the current market price, and the value will be about 13.3k.
It's one of the different analyses, so just refer to it!
Thank you for reading this long analysis :)