I've overlayed the September 2024 low to our ATH and overlayed that on the most recent low.
So far the alignment has been spot on, but shows we could have a rejection off of a downward trendline from our most recent high.
The lower upward trendline is tracking with the local highs and local lows. I've terminated both downward and upward as a key point to determine whether or not we've seen our cycle high. But so far this test of the downward trendline looks promising.
I also have the 200 Day SMA that has so far held as support for Bitcoin. A pullback/confirmation of our 200D break-out at 85k would be ideal.
Please do your own research. None of this is intended to be financial advice. FWIW, I like high risk assets but I have most of my profit 'bag' in money market, with a slightly smaller position in Bitcoin, and a much smaller position in Ethereum.
So far the alignment has been spot on, but shows we could have a rejection off of a downward trendline from our most recent high.
The lower upward trendline is tracking with the local highs and local lows. I've terminated both downward and upward as a key point to determine whether or not we've seen our cycle high. But so far this test of the downward trendline looks promising.
I also have the 200 Day SMA that has so far held as support for Bitcoin. A pullback/confirmation of our 200D break-out at 85k would be ideal.
Please do your own research. None of this is intended to be financial advice. FWIW, I like high risk assets but I have most of my profit 'bag' in money market, with a slightly smaller position in Bitcoin, and a much smaller position in Ethereum.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.