I'm not a charting expert. A long term channel for $BTC existed from 2015-2017. Channel was broken last year when $BTC went parabolic. The current failing wedge converges with this channel right around the end of this month at the $4500-$4000 levels. Just some food for thought. Not calling a bottom or top atm
Interesting pattern for $STRAT. It seems like price reaches new Higher High, consolidates to a 50% - 72% retrace level from the previous low to the previous high and then bounces up, all the while peaking close to the long term RES.
The purple flags indicate the consolidation pattern and then the eventual breakout.
More interesting that the 5 and 10 day MA...
The original Support/Resistance from the beginning of this recent bull run are in GREEN and represent a BULL Scenario. The recent reversal in momentum though may spark a reversal that consolidates down to the 73% on the FIB level where its a buy. I bought in on the 50% level now and am betting on the trend continuing upward. The reason: Everything in Crypto is...
Purely TA and very basic. I don't have a preconceived slant on BTC (bullish or bearish). If this pattern holds though see saw battles between alts/BTC will continue until EOM. Let's see if the new RES levels hold. Comments wel.come.
