Just some thoughts from an amateur. BTC breakdown seems to be heading for an intersection between 3 points crossing at 4400k:
- Long term trend line from when BTC was first listed on Coinbase
- 0.786 fib retracement level for the same period
- Symmetrical distance from July's high
As an aside, the same analysis on the bit stamp chart shows BTC breaking down...
Disclaimer: I am new to TA and learning
I am interested in long term historical trends and whether they are useful indicators of future performance. I was looking at the last low point and high point over a number of years. It looks like the low point was August 2013. From this point BTC price increased along the lower trend line, touching the trend line in May...