BTC at important parabola support

Updated

I got this idea from Bullbearish (see related idea). Saw these longer term lines just now. Seems we're currently still holding support but if this breaks it will likely not be pretty.

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Not sure if I'm even drawing them correctly though, but maybe something worth considering.

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Reaction seems strong and until this highlighted range is broken to the downside I expect further upside because it looks like a perfect way to trap shorts

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Buyers seem strong still, CVD seems bullish, support holds pretty well, and it looks like many people are trying to short this. The only thing I'm not too fond of is the general shape of the pattern

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Had actually drawn it a little bit cleaner:

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Second time we hit the parabola support now, it rebounded ... will we go up for now?

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We're back again, currently on/just below the support. Doesn't look too good right now, waiting for some closes below on larger timeframes or a potential bounce

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Still proving useful, as you can see

reveance

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Now this is scary!

by Bullbearish

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