Urbanmove

BTC ( LIFE TIME )

KRAKEN:XBTUSD   XBT / USD
Here is my life time ( longest term chart that can be practically mapped )

Next major low still projects to be near $8000. We have no support at all for the upper half of this enormous wave form. The $7788 November high is the only structural peak to gain support from in a historical context. And it is not much to look at. $5042 looks better. In any case. I see no way to make a new high, before more structural support is added to this wave form. So it must be at lower prices that this structure will come from.

Lifetime fib of 62.5% is also down there. ( white box , bottom line ) So is a huge lifetime trend line ( purple line ). That in a bullish new high future higher than 20,000 scenario requires we bottom ABOVE this life time trend line not AT it or UNDER it but ABOVE it.

Additionally the 50% life time fib ( white line middle of box ) has been violated more times than a $50 h@@ker. The 50% line is weak. It would be a Quadruple bounce if it held again. Don't see to many quadruple bounces.

That being said, we are oversold momentarily and have a lot of bulls just dying to jump in and buy low. They appear to be releasing their capital now. I believe they have enough of their life savings left to get us to $14080 or so. Then reality will hit. And we will sell to $10914, and then.....

All bets are off till we get there.
I am of the idea we will just blow right through it hot knife thru butter style, but that's a ways away for me to discuss in any meaningful detail.

If she blows the $9200 lows then $7800 - $8000 is my catch zone. I would convince my grandparents to buy crypto at this level if we see it.

I am posting this in a 3 chart series.
Daily candles
64 minute candles
16 minute candles ( on going )

Please post any questions you may have,
thank you and good luck!
@gripfast - Grip - here's updated chart
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Apologies - can you zoom out to mid 2016. Thankyou.
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Urbanmove josephtse
@josephtse, if you choose the " make it mine" - option you can have my chart load into your trade view web page as a tab, and manipulate it any way you want. Try that to see the rest of the older data on the chart.
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Where does the bottom line of your white linear regression channel come from? Can you update and zoom out to mid 2017? Just looks arbitrary here. Why wouldn't price just fall to the bottom of the descending channel like every bank and person is predicting?
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Urbanmove josephtse
@josephtse, the white upward regression channel is anchored to the last low in the last Murrey Math Frame before the last frame shift. I know - you dont know murrey math. Its not really that important other than its the anchor point of the life time channel. There are many channels. But it is certainly not arbitrary. Its more of a definition. On your question do you mean the fall to the bottom of this same ascending regression trend channel? Or the blue one ( descending ) ? My forecast is that price may fall to meet the white ascending regression channel at near $7800. Gonna try the post the chart instruction. Thanks !
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