Dampening Amplitude
I know there are a lot of lines in this story. It is an unique perspective, and only intended to show something different than what most will draw. Bear with me if you care to. The underlying message is price point should gravitate towards the red dashed line through the beginning of April, if you want simplicity.
Blue rectangles are downchannel breakouts (1 failed, 2 successful, 1 projected)
Downchannels: 1/3 - White; 2/3 - Orange; 3/3 - Red
Upchannels: 1/3 - Green; 2/3 - Blue; 3/3 - Purple
Yellow horizontal lines: We have a situation
Red Horizontal Lines: We have a PROBLEM
RED DASHED LINE: Drawn from the September High through mid- to late- October, when BTCUSD held around 5.5k at its most consistent point since then. (drag over to see)
April is approaching, and the breakout from the 1/3 white downchannel should be arriving in the first couple of weeks. If BTC hits 10k before the end of March, then I'd anticipate the breakout earlier than is drawn here.
If BTC instead holds tight to the red dashed line, then I'd anticipate the breakout from the 1/3 white downchannel in Mid-April.
The white dashed lines are new, and are drawn from intersections of downchannels, which coincide with support zones that can show good buying opportunities.
The overall assessment from this price movement across time is that BTC has moved into the "return to the mean" portion of a bubble curve, if the trend can be drawn from mid- to late- October coincident with the red dashed line.
fixwillpower.com/wp-content/uploads/2013/04/bubble.jpg
Some of the relative stability expected from the next few days and weeks may be drawn from the market cap of alts, and this is still a good thing. Since the developments, press releases, and advances made by legitimate altcoins should continue, more illegitimate altcoins should decline in comparison, with BTCUSD reflecting and facilitating that flow of capital from riskier and poorer performing coins to projects that produce and deliver on their promises towards their platforms. Once the scale tips from
An interesting thing to observe will be how LTC and ETH perform during this timeframe as 1) LTC is often cheaper to move between exchanges (this may be slightly different after segwit adoption), and 2) ETH may be used to facilitate other alt and token exchanges, which over time will probably steal some of the "reserve currency" function from BTC.
Hopefully you're enjoying the ride more than stressing about particular price points. I bid you strong hands and keen insight.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
Blue rectangles are downchannel breakouts (1 failed, 2 successful, 1 projected)
Downchannels: 1/3 - White; 2/3 - Orange; 3/3 - Red
Upchannels: 1/3 - Green; 2/3 - Blue; 3/3 - Purple
Yellow horizontal lines: We have a situation
Red Horizontal Lines: We have a PROBLEM
RED DASHED LINE: Drawn from the September High through mid- to late- October, when BTCUSD held around 5.5k at its most consistent point since then. (drag over to see)
April is approaching, and the breakout from the 1/3 white downchannel should be arriving in the first couple of weeks. If BTC hits 10k before the end of March, then I'd anticipate the breakout earlier than is drawn here.
If BTC instead holds tight to the red dashed line, then I'd anticipate the breakout from the 1/3 white downchannel in Mid-April.
The white dashed lines are new, and are drawn from intersections of downchannels, which coincide with support zones that can show good buying opportunities.
The overall assessment from this price movement across time is that BTC has moved into the "return to the mean" portion of a bubble curve, if the trend can be drawn from mid- to late- October coincident with the red dashed line.
fixwillpower.com/wp-content/uploads/2013/04/bubble.jpg
Some of the relative stability expected from the next few days and weeks may be drawn from the market cap of alts, and this is still a good thing. Since the developments, press releases, and advances made by legitimate altcoins should continue, more illegitimate altcoins should decline in comparison, with BTCUSD reflecting and facilitating that flow of capital from riskier and poorer performing coins to projects that produce and deliver on their promises towards their platforms. Once the scale tips from
An interesting thing to observe will be how LTC and ETH perform during this timeframe as 1) LTC is often cheaper to move between exchanges (this may be slightly different after segwit adoption), and 2) ETH may be used to facilitate other alt and token exchanges, which over time will probably steal some of the "reserve currency" function from BTC.
Hopefully you're enjoying the ride more than stressing about particular price points. I bid you strong hands and keen insight.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
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