Top resistance line formed from the top of the 1929 bubble and the support line formed at the bottom of the bubble in 1932. Both lines have held support and resistance since then, with the most recent support touch in 1982 and recent resistance touch in 2018. Due to major bearish divergence formed from Apr 1998 to Jul 2018, the support line may be touched again at...
Bitcoin has formed a rising wedge on the daily and broke through the top resistance line of the downward channel formed on Nov 21 with the support line formed on Nov 24. Price action seems to be a correction from the relative over sold condition on the RSI daily and 3 day charts. A similar pattern, daily rising wedge, was formed after the bottom was found back in...
Support line began from the last quarter of '95, back tested the following quarter and continued to support the 2000 bubble bottom and 2008 bottom with possible support for the next bottom, Jul 2021, due to over bought condition on the RSI and major bearish divergence. Resistance line formed from the top the Jan 2000 bubble to the current Jul 2018 bubble....
Previous resistance back in 2011 has turned into support for the bottom of the 2013 bubble and now possibly for the bottom of the 2017 bubble at around 1964 (First quarter of 2019). One scenario that might occur due to the over bought conditions on the RSI, 97, is that a large correction may need to occur, which could bring the price to previous resistance, which...
