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Bitcoin: Resistance Line + Downtrend Line = ?
Our obsession with patterns continues...
I realize you should draw a downtrend line over the candles and an upward one, under, but hey.
It seems beyond obvious that some folk(s) were propping up the 6k line for a few months and then walked away. Does the chart indicate that in last bear market, due to there being a more gradual decline, there were less whales?
Why the lines?
It seems that now BTC price has caught up with it's original destination price via a 90 degree route instead of a regular 45ish degree one, but still has a little more distance to travel? What are your thoughts?
Maybe it's something and maybe it's nothing, either way it's very interesting to ponder. For me, anyway.
I realize you should draw a downtrend line over the candles and an upward one, under, but hey.
It seems beyond obvious that some folk(s) were propping up the 6k line for a few months and then walked away. Does the chart indicate that in last bear market, due to there being a more gradual decline, there were less whales?
Why the lines?
It seems that now BTC price has caught up with it's original destination price via a 90 degree route instead of a regular 45ish degree one, but still has a little more distance to travel? What are your thoughts?
Maybe it's something and maybe it's nothing, either way it's very interesting to ponder. For me, anyway.
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