BTC/USD Long term trend
Two very clear trendlines have been respected over the course of BTC existence
- The semi-ellipse trend which has acted as resistance throughout all of BTC cycle peaks
- The long term linear trend which has acted as support
It looks like BTC may be nearing the end of the semi-ellipse trend, after which we might see a major breakout upwards (possibly around mid 2025). If this fails to happen we will probably see the major support line get tested with a possible break and fall to low 50s
- The semi-ellipse trend which has acted as resistance throughout all of BTC cycle peaks
- The long term linear trend which has acted as support
It looks like BTC may be nearing the end of the semi-ellipse trend, after which we might see a major breakout upwards (possibly around mid 2025). If this fails to happen we will probably see the major support line get tested with a possible break and fall to low 50s
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