Resist, then support
Red Downchannel - #3/3
Orange Downchannel - #2/3
White Downchannel - #1/3
Blue Rectangles - Downchannel escapes (#1 failed, #2 and #3 successful)
Green Upchannels - Unreasonably bullish in context
Blue Upchannel - "Reasonably" bullish in context
Yellow line - "we have a situation" zone
Red line - "WE HAVE A PROBLEM" zone
Purple Parallelogram - A dangerously starry-eyed target (if reached it could precipitate more of a decline than I'm eager to bargain over)
Vdub Sniper has not triggered a sell signal, though RSI has been trending high and could bring things back down a bit.
RSI Compression derived from December ATH and subsequent bearish divergence crossed 50% and BTCUSD responded by going from 8400 to 11000. That line will reach 30% on the SAME DAY as the blue upchannel bottom edge intersects with the white downchannel #1/3 top edge. Four days prior to this, the 3Day RSI bullish line starting in September 2014 intersects as well. I might expect some movement around this time.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
Orange Downchannel - #2/3
White Downchannel - #1/3
Blue Rectangles - Downchannel escapes (#1 failed, #2 and #3 successful)
Green Upchannels - Unreasonably bullish in context
Blue Upchannel - "Reasonably" bullish in context
Yellow line - "we have a situation" zone
Red line - "WE HAVE A PROBLEM" zone
Purple Parallelogram - A dangerously starry-eyed target (if reached it could precipitate more of a decline than I'm eager to bargain over)
Vdub Sniper has not triggered a sell signal, though RSI has been trending high and could bring things back down a bit.
RSI Compression derived from December ATH and subsequent bearish divergence crossed 50% and BTCUSD responded by going from 8400 to 11000. That line will reach 30% on the SAME DAY as the blue upchannel bottom edge intersects with the white downchannel #1/3 top edge. Four days prior to this, the 3Day RSI bullish line starting in September 2014 intersects as well. I might expect some movement around this time.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
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