This study shows key trading levels using the the Pitchfork tool.
We see some clear patterns from the median lines that create a Channel Up pattern. This pattern's Higher Highs (December 2013 and December 2017) have 0.75 Median difference. If the same scale applies on the Higher Lows we can assume that since the January 2015 Low was made on Median 1, then the next should be on 0.25. That was practically the December 2018 Low. It also nearly matches the ~ 85% decline from the Highs.
Of course those parameters can be very relative but the tools are there to help us make a reliable technical projection to a certain degree. Using that we can reach the conclusion that Bitcoin has made a Bottom and should trade within the 0.25 range for most of 2019 before it aggressively breaks higher.
Essentially we should be on the early stages of the new Bull Market.
You can check more related BTC material and studies below:
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
We see some clear patterns from the median lines that create a Channel Up pattern. This pattern's Higher Highs (December 2013 and December 2017) have 0.75 Median difference. If the same scale applies on the Higher Lows we can assume that since the January 2015 Low was made on Median 1, then the next should be on 0.25. That was practically the December 2018 Low. It also nearly matches the ~ 85% decline from the Highs.
Of course those parameters can be very relative but the tools are there to help us make a reliable technical projection to a certain degree. Using that we can reach the conclusion that Bitcoin has made a Bottom and should trade within the 0.25 range for most of 2019 before it aggressively breaks higher.
Essentially we should be on the early stages of the new Bull Market.
You can check more related BTC material and studies below:
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
Telegram: t.me/investingscope
www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
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Free Channel: t.me/investingscopeofficial
www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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