Long

BTC's important trendlines coming from February 2013

Updated

As we are heading upwards and everyone is in full FOMO mode i spotted some very important trendlines for BTC/USD that are coming and acting as S/R since February 2013!!! And are still many times in play all these years

So everyone should have in his mind to keep those lines on the chart on his chart as they may create some action if hit

The red rectangle marked on the chart above is a significant resistance area that we might hit it the coming week and maybe rejected as it is the middle line of the channel and acted many times as a line that causes reaction and also is the 0.618 fib level from $20000 to $3.120

Hope my chart will help you for entering positions on these lines in the future

Share and like if you find it useful

Cheers!!!

Note

Also guys look at the marked area how it played in the past

The key for the new ATH was the breakout of the medium channel line.

First time rejected then retested the yellon line below and after that broke the medium channel line retested it and lead us to the new ATH

THERE are many confluent reasons to see that playing out until the EOY

Note

As you see everything is going by plan...
I expect a possible wick 8400-8600 area depends on the exchange
For bitmex you can place some orders bellow the green area
in order to built a better entry price if filled because of higher volatility
The green area if reached might be the long of your life ;)
If it helped you share and tweet my idea..
Cheers

aleXChas7

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.